How This Began
This all began in Aug. 2023 when the state of Michigan audited his business, Bay Auto Brokers. The audit began when there was a complaint about a fraudulent vehicle loan.
Investigators ultimately determined that Janssen had used fictitious vehicles on multiple auto loans.
What Happened Before the Alleged Abduction
The following week after his license was revoked, the COO of Copoco Community Credit Union contacted local authorities to report a loss north of $1.34 million in Janssen’s business accounts.
He also told authorities that Janssen deposited checks for that amount, but they were returned due to insufficient funds.
It was then discovered that Janssen withdrew tens of thousands of dollars from various banks from October to November before going “missing.”
Janssen is “Found”?
Janssen disappeared on Nov. 13 and wasn’t seen until Dec. 16. He flagged down a motorist in Meade Township. He was zip-tied and bleeding.
He claimed to have been held hostage in an Ohio basement.
Janssen said that a Mexican cartel extorted him, and it had been going on since Oct. 2021 after he was approached by a gunman following a Detroit poker tournament.
FBI affidavits don’t state whether the abduction is legitimate or not.
About $3.93 million was obtained from various banks and credit unions.
Law enforcement interviewed Janssen’s son, a salesperson, who described his father's actions as “robbing Peter to pay Paul.” The son also took out loans for about $288,000 at his father’s request.
When it was all said and done, the FBI found the following:
- 20 financial institutions were targeted between June 2016 and Oct. 30, 2023.
- The total loan amount was $3,934,141.
- $1,946,549 remains owed.
- $1,343,285 was removed from Copoco.
- The total value of the loss is $3,289,834.
- Janssen won more than $440,000 in World Series of Poker winnings.
On Feb. 28, Janssen appeared before U.S. District Magistrate Judge Patricia T. Morris.
He’s been charged with one count of financial institution fraud, which carries a maximum sentence of 30 years in prison and a $1 million fine.
He was released on a $10,000 unsecured bond.
