Investment adviser charged with defrauding clients

BATON ROUGE- A Louisiana-based investment adviser has been charged with defrauding clients by using their money for personal expenses, to pay off other investors and to invest in a risky real estate venture.Ralph Willard Savoie, a resident of Baton Rouge and Mandeville, was charged last Friday in federal court with two counts of wire fraud and one count of identity theft.A court filing says Savoie obtained more than $150,000 from investors he allegedly defrauded and used some of the money on je