Grand jury indictment adds wire fraud and money laundering counts against Milwaukee investment promoter Joseph Nantomah
Indictment broadens federal criminal case
A federal grand jury in Wisconsin has returned an indictment against Joseph James Nantomah, a former Milwaukee business operator accused of defrauding investors through a real estate-themed investment pitch. The indictment expands a previously filed criminal complaint and lays out nine felony counts: six counts of wire fraud and three counts of money laundering tied to specific transactions in 2023 and 2024.
Nantomah has pleaded not guilty. Federal court proceedings are scheduled to continue in the U.S. District Court for the Eastern District of Wisconsin. A trial date has been set for April 21, 2026, and additional pretrial hearings are scheduled for late February.
What prosecutors allege happened
Federal prosecutors allege Nantomah solicited money from victims by promoting real estate “fix-and-flip” opportunities and offering guaranteed returns. The charging documents describe a scheme in which investors were shown materials intended to portray active property deals and profitable projects, while funds were allegedly diverted for other purposes.
Investigators have said financial analysis identified at least 32 individuals and businesses who invested more than $1.9 million with Nantomah between 2020 and 2024. The indictment also includes forfeiture allegations, which would allow the government—if it secures convictions—to seek the loss of assets the prosecution contends are connected to the charged conduct.
Wire fraud counts focus on electronic communications and transfers alleged to have been used to obtain money through false representations.
Money laundering counts focus on financial transactions prosecutors allege involved proceeds of unlawful activity.
Forfeiture allegations seek the potential surrender of money and property connected to the alleged crimes if convictions occur.
Parallel civil enforcement and investor lawsuits
The criminal case runs alongside a civil enforcement action filed in August 2025 by federal securities regulators against Nantomah and three companies—Investors Capital LLC, Global Investors Capital LLC and High Income Performance Partners LLC. That lawsuit alleges a real estate-related offering fraud, including claims that investors were solicited with promises of lucrative returns while a large share of funds was used for other purposes. Court records show defaults were entered against the corporate defendants in December 2025, while the case continued as to Nantomah.
Separate from government actions, investors have pursued civil claims in federal court. In one case filed in 2024, a judge’s January 2026 order described allegations of a Ponzi-style structure and allowed parts of the case to proceed, with a damages motion deadline set for February 20, 2026.
What happens next
The indictment moves the criminal case into a phase where prosecutors must prove each count beyond a reasonable doubt at trial. As the matter proceeds, the court will address pretrial motions, scheduling, and any disputes over evidence. Nantomah remains presumed innocent unless and until proven guilty.
Note to readers: Criminal charges are allegations. A defendant is presumed innocent until proven guilty in court.