Full Notification

Green Bay Police have taken into custody 40 year old Frank Bagniefski of Green Bay on several felony counts of Theft by False Representation. Since 2009 and while employed by 1st Rate Lending of Green Bay, Bagniefski is accused of misleading individuals to invest in a fraudulent business he had created.

An investigation by the Wisconsin Department of Financial Institutions-Division of Securities, and the Green Bay Police Department revealed Bagniefski used approximately $150,000 he collected from individuals for their so called investments, on his own living expenses and to pay off some of his outstanding personal debts. Employees of 1st Rate Lending are cooperating with the investigation.

The Green Bay Police would like to speak to anyone who they feel may have been mislead while investing with Frank Bagniefski at 1st Rate Lending during this time period. They are asked to contact Detective Gary Fifarek of the Green Bay Police Dept at 448-3261.