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Schipper pleads guilty to kidnapping Erie couple

November 15, 2018

MORRISON – A Geneseo man has pleaded guilty to kidnapping an Erie couple and invading their home with a dangerous weapon.

Chad C. Schipper, 41, of Geneseo pleaded guilty in Whiteside County Court on Wednesday to three out of 17 felony charges being aggravated kidnapping, aggravated kidnapping and concealing identity, and home invasion with a dangerous weapon. All carry sentences of 6 to 30 years in prison, and his sentencing is scheduled for Feb. 5.

Investigators say Schipper kidnapped Larry and Connie VanOosten at gunpoint from their home on Feb. 7, 2017, and held them in a secret room in a vacant home he owned in Geneseo, using a stun gun to keep them subdued. He then forced them to get a $350,000 cashier’s check from their Albany bank to pay their own ransom.

Police, who were alerted to a possible abduction by a teller, spotted Schipper’s car the next day; he led them on a high-speed chase that ended with his arrest.

Further charges, four counts of harassing a witness were filed in June accusing Schipper of writing two letters in April to the couple pretending to be a home invasion victim named “Elouisa Mae,” who encourages the them “to ask for a lenient sentence for Chad C. Schipper.”

Those charges were dismissed following the plea deal.

Schipper, an Erie High School graduate and father of six, ran Schipper Financial Services LLC in his home. He opened the business on July 12, 2013, but had not been a registered investment adviser or broker since September 2013, according to the Financial Industry Regulatory Authority, which regulates businesses and people selling securities in the U.S.

He is also being sued by his parents, Marlyn E. and Linda Schipper, who say he stole more than $444,000 from them over 4 years in his capacity as their financial investor.

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