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Ex-Wausau mortgage firm owner pleads not guilty to embezzlement


WAUSAU, WI (WTAQ) - A former owner of a Wausau mortgage firm has pleaded not guilty to 25 criminal charges, for allegedly embezzling over $1 million from his former clients.

52-year-old Jay Fischer, who now owns a campground at Marion, was ordered Tuesday to stand trial on 21 felonies and four misdemeanors that include racketeering, forgery, embezzlement, and tax law violations. Those charges were filed last July in Marathon County.

Authorities said Fischer took money he was supposed to use to pay off mortgages for 8 clients in his role as the owner of Valley Title in Wausau.

Also, Fischer was charged earlier this month in Marathon County with child sexual assault, incest, and bail jumping – and he’s been ordered to stand trial on those charges as well.

No new court dates have been set in either case. Fischer remains in jail under a $50,000 bond.