Man Agrees To Guilty Plea To Stealing $16M From Michigan Heiress

GRAND RAPIDS, Mich. (AP) — The president of a western Michigan investment company investment firm has agreed to plead guilty to stealing roughly $16 million from Elsa Prince-Broekhuizen, a prominent western Michigan philanthropist.

The plea agreement filed Friday says 68-year-old Robert Haveman admitted to wire fraud and money laundering. He admits in the plea agreement to causing $16.2 million in losses to Prince-Broekhuizen's trust.

Officials say Haveman devised a scheme to defraud the widow of industrialist Edgar Prince as well as mother of Republican Party activist Betsy DeVos and Erik Prince. Prince founded security firm Blackwater Worldwide.

The money laundering relates to charges he bought vacant land on Lake Michigan.

Haveman waived his right to a grand jury indictment. He faces up to 30 years on the charges, and the court will determine a sentence.

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