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August 23, 2013

Financial adviser under investigation tries to kill wife, shoots self

SIMPSONVILLE, Ky. — An Indiana investment adviser under investigation for financial crimes tried to shoot his wife – who escaped unhurt by climbing through a bathroom window – before turning the gun on himself.

Richard Schwartz was found dead Wednesday afternoon in a bedroom in his family’s million-dollar home on a horse farm in Simpsonville, Ky.

Sheriff’s deputies said Schwartz was arguing with his wife, Brielle, when she noticed he had a gun. The husband tried to fire, but the gun jammed, giving the wife enough time to run into the bathroom.

Schwartz fired seven shots through the bathroom door, but his wife escaped through a window without being hurt, said Maj. Jason Rice of the Shelby County Sheriff’s Office.

Schwartz was the CEO of the Schwartz Group, a wealth management company with offices in Kokomo, Ind., and Scottsdale, Ariz. He was under investigation by several agencies, including the Indiana Secretary of State’s Office and the Indiana Department of Insurance.

The Federal Bureau of Investigation would not confirm or deny it was looking into Schwartz's financial dealings, but local authorities in Indiana referred one possible victim to the FBI this week.

Last month, a federal court ordered Schwartz to reimburse New York Life Insurance Co $1.45 million after the company said it paid him for insurance polices he wrote that were later declined or canceled.

A day after the court ruling, Brielle Schwartz filed for divorce.

"[Brielle] said there was an abnormal amount of lawsuits and papers being filed, and he wasn't really giving her much information on what was going on," Rice said.

On the day of the shooting, there were six other family members in the Schwartz home, including the couple’s children and other family members in town for the Kentucky State Fair, where the family showed horses. None of them were injured in the shooting.

Details for this story were reported by The Kokomo (Ind.) Tribune.

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