William Jack Berg, who was wanted on money laundering and fraud charges, has been captured following a federal warrant for his arrest that was issued on March 19th. Berg, who goes by Bill Berg, is a financial advisor from Waukee who allegedly defrauded more than a dozen client investors in a scheme that resulted in the loss of over $1.5 million. An investigation by the FBI and the Iowa Insurance Division’s Fraud Bureau found that instead of investing his clients’ funds, Berg used the money for his personal benefit.

Berg was apprehended without incident by the Shawnee, Kansas Police Department on April 4, 2024 after the FBI received a tip on Berg’s whereabouts.  

Iowans with information about insurance fraud are encouraged to contact the Iowa Insurance Division’s Fraud Bureau at 515-654-6556.

Berg Wanted Poster