Henderson Man Arrested for Alleged $15 Million Ponzi Scheme

Posted by Neil Shouse | Oct 29, 2012 | 0 Comments

On Wednesday, a fifty-four year old Henderson man is scheduled to be arraigned in federal court in L.A. for allegedly spearheading a $15 million Ponzi scheme. Earlier in October he was arrested in Las Vegas on federal charges of mail fraud and wire fraud. He's reported to have swindled investors with false information and solicited money through some Nevada-based corporations.

The federal crime of mail fraud in Nevada occurs when someone utilizes the mail to try to defraud someone else. Consequently, the federal crime of mail fraud in Nevada is very broad because it's applicable to all fraudulent acts involving the mail to carry out the fraud. The elements of mail fraud are the following: 1) there was a fraudulent scheme mean to deprive a person or institution out of money, property or honest services, 2) the defendant intended to defraud, 3) the fraud involved material lies, and 4) the defendant used the mail to effectuate the fraud.

Penalties for the federal crime of mail fraud include up to twenty (20) years in prison and/or a fine. If the mail fraud involves federal disaster relief or if the victim is a bank or other financial institution, the punishment is then up to thirty (30) years in Federal Prison and up to one million dollars ($1,000,000) in fines. The court may also order that the defendant pay restitution.

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Neil Shouse

Southern California DUI Defense attorney Neil Shouse graduated with honors from UC Berkeley and Harvard Law School (and completed additional graduate studies at MIT).


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