Shivangi Sinha
In February 2017, Larry and Connie Van Oosten were kidnapped from their home in Erie, Illinois. The elderly, retired couple had been living peacefully at their farmhouse when they were forcibly taken. It was only when the kidnapper brought them to a bank that Connie managed to raise an alarm, discreetly alerting authorities. Soon after, police identified Chad Schipper as the perpetrator and learned that he had known the couple for several years. Their harrowing ordeal later became the basis for Lifetime’s ‘Rescued by Faith: The Connie and Larry Van Oosten Story,’ which portrays the story in detail.
Chad Schipper Was Facing Financial Trouble When He Kidnapped the Elderly Couple
Chad Schipper built his life in Erie, Illinois, where he graduated from Erie High School and later raised a family with six children. In July 2013, he started Schipper Financial Services LLC, operating it from his home, but by September that same year, he had lost his license to work as a registered investment adviser or broker. His parents, Marlyn E. and Linda Schipper, were active members of their church, and Chad often accompanied them. It was through Sunday school that he first met Larry and Connie Van Oosten. According to reports, in 2015, he approached Larry for financial help but was turned down. It was an incident that allegedly led him to begin planning the crime.
Around 3:30 am on February 7, 2017, Chad broke into Larry and Connie’s home. He held them at gunpoint and forced them into the trunk of his car before driving them to Geneseo, Illinois. There, he had prepared a bunker-like room equipped with electronic locks and surveillance systems. To avoid being identified, he wore a mask and used a voice-altering device, while also threatening harm to their children and grandchildren. The next day, February 8, 2017, he took them to First Trust and Savings Bank in Albany, Illinois. Inside, Connie managed to discreetly pass a note to a teller asking for help. As soon as she left, the police were alerted, and Chad’s license plate was identified. He was quickly apprehended and revealed the location where Larry and Connie were being held.
Police later discovered that Chad had borrowed $300,000 from his grandmother and was facing legal threats from his uncle over unpaid debts. Prosecutors stated that he had attempted to pay his uncle with a bad check, alleging he hoped to secure the ransom money from Larry and Connie in time to cover it. It became clear that he was dealing with serious financial troubles. Following his arrest in February 2017, his financial situation continued to unravel. By September 2017, First Trust and Savings Bank in Erie filed for foreclosure on a house he owned, seeking to recover around $44,000 from a line of credit he had taken out in 2013. Chad was ultimately charged with multiple offenses, including aggravated kidnapping, concealing identity, home invasion with a dangerous weapon, harassment, and witness tampering.
Chad Schipper is Being Held in an Illinois Prison Today
In November 2018, Chad Schipper pleaded guilty to aggravated kidnapping, concealing identity, and home invasion with a dangerous weapon. As part of his sentencing, he was prohibited from coming within 100 yards of Larry and Connie Van Oosten, while the remaining 41 charges against him were dismissed. He received a strict 60-year prison sentence for his crimes. His legal troubles did not end there. Chad’s parents filed a civil lawsuit against him, alleging that he had stolen more than $444,000 from them over four years while acting as their financial adviser.
In November 2017, he was criminally charged with theft, accused by prosecutors of obtaining unauthorized control over more than $100,000 but less than $500,000 belonging to Barry C. Leeds. He had met Leeds through the same church. Now 49 years old, Chad is incarcerated at Menard Correctional Center in Chester, Illinois. Reports suggest he has joined a pen pal program and hopes to communicate with others. He will be eligible for parole in 2070.
Read More: Larry and Connie Van Oosten: Where Are the Kidnapping Survivors Now?
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