Authorities have charged a Lombard man who is alleged to have stolen almost $300,000 from the retirement account of a former in-law, according to DuPage County prosecutors.
Arham Rizavi, 33, was released on bond Thursday after turning himself in this week on a count of theft between $100,000 and $500,000, according to court records. A warrant had been issued for his arrest on Jan. 20.
According to court files, Rizavi gained access to the retirement account of one of his wife’s relatives, and took about $290,000 between May 2014 and the following April. The relative noticed the missing money and contacted police, prosecutors said. Rizavi and his wife have since divorced, according to court records
In court documents filed by his lawyer, Rizavi contends that the relative gave him access to the account so Rizavi, who formerly worked as a trader, could manage and invest the funds.
"As defendant’s marriage broke down, so did the relationship with (the relative)," attorney Patrick Weiland wrote.
Suburban Chicago arrest photosOpen link
A civil attorney spent a year trying to mediate the dispute between Rizavi and the relative, but the discussions broke down, Weiland wrote. Police became involved after Rizavi and his wife finalized their divorce in October 2016, the attorney noted.
Rizavi was released after posting 10 percent of a $75,000 bail. He is due in court for arraignment on March 28.
Clifford Ward is a freelance reporter.
Our editors found this article on this site using Google and regenerated it for our readers.
