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	If you find an error and are not able to edit it yourself, flag it. Send the page name, the specific claim, and a source that shows the correct fact, either through the article's talk page or by email to team@prisonpedia.com. Corrections backed by a citation get priority. Accuracy is the whole product here, so a good correction is one of the most useful things you can send.		If you find an error and are not able to edit it yourself, flag it. Send the page name, the specific claim, and a source that shows the correct fact, either through the article's talk page or by email to team@prisonpedia.com. Corrections backed by a citation get priority. Accuracy is the whole product here, so a good correction is one of the most useful things you can send.

			{{DEFAULTSORT:Mission, Support Our}}
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Orderly — Wed, 03 Jun 2026 14:33:29 GMT

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TerryMoses — Wed, 03 Jun 2026 14:33:24 GMT

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	We read everything that comes in. We cannot promise to use everything. Some tips do not check out. Some accounts cannot be sourced to the standard a public page needs. When we can use what you send, we will, and the page will be more accurate because of it. That is the whole point of the project. The record is only as good as the people willing to correct it.		We read everything that comes in. We cannot promise to use everything. Some tips do not check out. Some accounts cannot be sourced to the standard a public page needs. When we can use what you send, we will, and the page will be more accurate because of it. That is the whole point of the project. The record is only as good as the people willing to correct it.

			{{DEFAULTSORT:Contribute}}
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Orderly — Wed, 03 Jun 2026 14:33:17 GMT

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Telecommunication Systems: Phones

Orderly — Wed, 03 Jun 2026 14:29:51 GMT

Redirect duplicate stub to the full telecommunications page

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	~~{{MetaDescription\|Learn about~~ Telecommunication Systems - Phones~~'s federal case~~, ~~conviction~~, and ~~prison experience on Prisonpedia.}}~~		#REDIRECT [[Telecommunication Systems: Phones, Email, and Tablets]]


	~~== See Also ==~~
	* [[Postal_Mail_Regulations\|Mail Regulations]]
	* [[Legal_Mail_Policies\|Legal Mail]]
	* [[Visiting_Policies_and_Procedures\|Visiting Policies]]

	~~== Nightmare Success Guides ==~~
	* [https://nightmaresuccess.com/guides/how-to-support-a-loved-one-during-incarceration/ How to Support a Loved One During Incarceration] — A grounded support framework for families balancing care, boundaries, and long-term stability.

Michael Madigan

JasonHarris — Wed, 03 Jun 2026 14:28:52 GMT

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			{{DEFAULTSORT:Madigan, Michael}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Public Corruption]]		[[Category:Public Corruption]]

Michael Madigan

Orderly — Wed, 03 Jun 2026 14:28:48 GMT

Create article: Michael Madigan (federal case)

New page

{{Infobox Person
|name = Michael Joseph Madigan
|birth_date = April 19, 1942
|birth_place = Chicago, Illinois
|residence = Chicago, Illinois
|charges = Bribery conspiracy (1 count), Bribery (2 counts), Wire fraud (3 counts), Travel Act / interstate commerce to facilitate bribery (4 counts)
|conviction_date = February 12, 2025
|sentence = 90 months (7½ years) federal prison, $2.5 million fine, 3 years supervised release
|sentencing_date = June 13, 2025
|judge = Hon. John Robert Blakey
|case_number = 1:22-cr-00115 (N.D. Ill.)
|facility = Federal Prison Camp, Morgantown, West Virginia
|status = Incarcerated
|occupation = Former politician, attorney
|known_for = Speaker of the Illinois House of Representatives (1983–2021); ComEd corruption case
}}

'''Michael Joseph Madigan''' (born April 19, 1942) is a former American politician from Chicago, Illinois. He served as Speaker of the Illinois House of Representatives for most of the period between 1983 and 2021, the longest tenure of any state or federal legislative leader in United States history. He also chaired the Democratic Party of Illinois for more than three decades.<ref name="ap_sentence">Associated Press. "Ex-Speaker Madigan reports to West Virginia prison to begin 7½-year sentence." October 14, 2025.</ref><ref name="cni_sentence">Hancock, Peter. "Ex-Speaker Madigan sentenced to 7½ years in prison for bribery, corruption." Capitol News Illinois, June 13, 2025.</ref>

On February 12, 2025, a federal jury in Chicago convicted Madigan on 10 of 23 counts in a public corruption case. He was found guilty of one count of bribery conspiracy, two counts of bribery, three counts of wire fraud, and four counts of using interstate commerce to facilitate bribery. The convictions centered on a scheme in which Commonwealth Edison, the state's largest electric utility, arranged jobs, contracts, and payments for Madigan associates to influence legislation in Springfield, and on a separate effort to secure a state board appointment for a Chicago alderman.<ref name="cbs_verdict">CBS Chicago. "Michael Madigan, former Illinois House Speaker, convicted on 10 corruption counts, acquitted on 7 others." February 12, 2025.</ref><ref name="usnews_verdict">Associated Press / U.S. News & World Report. "Former Longtime Illinois Legislative Leader Michael Madigan Is Convicted in Corruption Trial." February 12, 2025.</ref>

The same jury acquitted Madigan on seven counts and could not reach a verdict on six others, including the lead racketeering conspiracy charge. U.S. District Judge John Robert Blakey declared a mistrial on the deadlocked counts. On June 13, 2025, Blakey sentenced Madigan to 90 months in federal prison and a $2.5 million fine. Madigan reported to a federal prison camp in Morgantown, West Virginia, on October 13, 2025. The Seventh Circuit Court of Appeals affirmed his conviction on April 27, 2026.<ref name="cbs_verdict"/><ref name="cni_sentence"/><ref name="ap_sentence"/><ref name="cni_appeal">Capitol News Illinois. "7th Circuit upholds ex-Speaker Madigan's conviction of bribery, other corruption." April 27, 2026.</ref>

== Political Career ==

Madigan was born on April 19, 1942, and grew up in the Clearing neighborhood on the southwest side of Chicago. He earned a law degree and entered Democratic politics through the city's organization on the Southwest Side.<ref name="ballotpedia">Ballotpedia. "Michael J. Madigan." Accessed June 2026.</ref>

He won election to the Illinois House of Representatives in 1970 and represented a Chicago district for five decades. He first became Speaker in 1983. He held the post continuously through 2021 except for one term, from 1995 to 1997, when Republicans held a majority in the chamber. Across that span he became the longest-serving leader of any legislative body, at the state or federal level, in the history of the country.<ref name="ballotpedia"/><ref name="cni_sentence"/>

Alongside his legislative role, Madigan chaired the Democratic Party of Illinois from 1998 until 2021. The combination of the speakership and the party chairmanship gave him control over the legislative calendar, district map-drawing, and campaign funding for House Democrats. He was widely described in Illinois media as the most powerful figure in state government for much of his career.<ref name="ballotpedia"/>

In 2021 Madigan lost the speakership after a group of House Democrats withheld their support. He resigned his House seat and stepped down as party chairman the same year.<ref name="ballotpedia"/>

== The ComEd Scheme ==

The federal case grew out of an investigation into Commonwealth Edison, known as ComEd, the utility that serves northern Illinois. In July 2020 ComEd entered a deferred prosecution agreement with the U.S. Attorney's Office for the Northern District of Illinois. The company admitted that it had arranged benefits for Madigan associates over a period of years and agreed to pay a $200 million penalty.<ref name="cbs_verdict"/>

Prosecutors said ComEd paid roughly $1.3 million over about eight years to five people connected to Madigan. The payments ran through subcontractor arrangements and consulting contracts. In several cases, the recipients did little or no work for the money. The government's position was that the arrangement was designed to keep Madigan favorable toward ComEd's legislative priorities in Springfield, including bills affecting the utility's rates and operations.<ref name="cni_sentence">Hancock, Peter. "Ex-Speaker Madigan sentenced to 7½ years in prison for bribery, corruption." Capitol News Illinois, June 13, 2025.</ref><ref name="usnews_verdict"/>

A second strand of the case involved Danny Solis, a former Chicago alderman who became a cooperating witness and recorded conversations for the government. Prosecutors charged that Madigan worked to obtain a paid seat on a state board for Solis. In exchange, the government alleged, Madigan sought to steer property tax work to his private law firm from real estate developers whose projects Solis influenced.<ref name="cbs_verdict"/><ref name="usnews_verdict"/>

Michael McClain, a former lobbyist and longtime Madigan confidant, was charged as a co-defendant and tried alongside him. Prosecutors described McClain as Madigan's intermediary in the ComEd arrangement.<ref name="cbs_verdict"/>

== Trial and Verdict ==

The trial opened in the fall of 2024 in U.S. District Court in Chicago and ran for several months. Madigan testified in his own defense. The case went to the jury in late January 2025.<ref name="usnews_verdict"/>

Jurors deliberated for more than 60 hours across 11 days. On February 12, 2025, they returned a partial verdict. Madigan was convicted on 10 of the 23 counts he faced.<ref name="cbs_verdict"/>

The guilty counts were one count of bribery conspiracy tied to ComEd, two counts of bribery tied to ComEd, three counts of wire fraud connected to the effort to secure a state board seat for Solis, and four counts of using interstate commerce to facilitate bribery.<ref name="cbs_verdict"/>

Madigan was acquitted of seven counts. Those included one bribery count related to the Solis board scheme, two counts related to the ComEd scheme, and four counts tied to an alleged effort to bring law firm business to Madigan from West Loop apartment developers.<ref name="cbs_verdict"/>

The jury could not agree on six counts. The deadlocked counts included the racketeering conspiracy charge, the most serious count in the indictment, along with five counts connected to Solis and to Chinatown development legislation. Judge Blakey declared a mistrial on those counts. The jury was unable to reach a verdict on any of the counts against McClain, and the judge declared a mistrial as to him.<ref name="cbs_verdict"/><ref name="usnews_verdict"/>

== Sentencing ==

Judge Blakey held the sentencing hearing on June 13, 2025. He imposed a term of 90 months, equal to 7½ years, in the custody of the Federal Bureau of Prisons. He added a $2.5 million fine and three years of supervised release to follow the prison term.<ref name="cni_sentence"/><ref name="cbs_sentence">CBS Chicago. "Former Illinois House Speaker Michael Madigan sentenced to 7½ years in prison, $2.5 million fine." June 13, 2025.</ref>

In his remarks from the bench, Blakey described the case as a "tale of two Mikes." He acknowledged that Madigan had done work that benefited the public during his decades in office, and he also found that Madigan had committed acts of corruption. The judge said Madigan acted as the "central command post" of the bribery scheme.<ref name="cni_sentence"/>

Blakey also found that Madigan had lied during his testimony at trial. The judge described that testimony as a display of "perjury and evasion" and treated it as a factor at sentencing.<ref name="cni_sentence"/>

Federal inmates generally serve at least 85 percent of their sentences. Under that standard, Madigan would be in his late 80s before becoming eligible for release.<ref name="cni_sentence"/>

== Incarceration ==

Madigan reported to the Federal Prison Camp in Morgantown, West Virginia, on October 13, 2025, about eight months after the verdict. The facility is a minimum-security federal prison camp located near Morgantown, the home of West Virginia University. It sits roughly 500 miles from Chicago.<ref name="ap_sentence"/>

== Appeal ==

Madigan appealed his conviction to the U.S. Court of Appeals for the Seventh Circuit. On April 27, 2026, a three-judge panel affirmed all 10 of the guilty verdicts in a 29-page opinion. Judge Michael Scudder wrote for the panel. The court rejected arguments that the trial judge had erred in his jury instructions and that prosecutors had failed to prove a specific quid pro quo agreement. Scudder wrote that "a jury of twelve Illinois residents saw the evidence differently. So do we."<ref name="cni_appeal"/><ref name="npr_appeal">NPR Illinois. "7th Circuit upholds ex-Speaker Madigan's conviction of bribery, other corruption." April 27, 2026.</ref>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Michael Madigan?|answer=Michael Joseph Madigan is a former American politician from Chicago, Illinois. He served as Speaker of the Illinois House of Representatives for most of the period from 1983 to 2021 and chaired the Democratic Party of Illinois. In 2025 he was convicted on 10 federal corruption counts in a case involving the utility Commonwealth Edison.}}
{{FAQ|question=What was Michael Madigan convicted of?|answer=A federal jury in Chicago convicted Madigan on February 12, 2025, of 10 counts: one count of bribery conspiracy, two counts of bribery, three counts of wire fraud, and four counts of using interstate commerce to facilitate bribery. The charges stemmed from a scheme in which ComEd arranged jobs and payments for his associates to influence legislation.}}
{{FAQ|question=What was Michael Madigan acquitted of?|answer=The jury acquitted Madigan of seven counts. Those included one bribery count tied to a state board appointment, two counts related to the ComEd scheme, and four counts connected to an alleged effort to bring property tax law firm business to Madigan from apartment developers.}}
{{FAQ|question=Did the jury reach a verdict on all counts?|answer=No. The jury deadlocked on six of the 23 counts, including the lead racketeering conspiracy charge. Judge John Robert Blakey declared a mistrial on those counts. The jury also deadlocked on all counts against co-defendant Michael McClain.}}
{{FAQ|question=How long is Michael Madigan's sentence?|answer=Judge John Robert Blakey sentenced Madigan on June 13, 2025, to 90 months, equal to 7½ years, in federal prison. The sentence included a $2.5 million fine and three years of supervised release.}}
{{FAQ|question=Where is Michael Madigan incarcerated?|answer=Madigan reported on October 13, 2025, to the Federal Prison Camp in Morgantown, West Virginia, a minimum-security facility near West Virginia University.}}
{{FAQ|question=What was the ComEd scheme?|answer=Prosecutors said Commonwealth Edison paid about $1.3 million over roughly eight years to five people connected to Madigan, often through subcontractor and consulting arrangements in which the recipients did little work. The government argued the payments were meant to keep Madigan favorable toward the utility's legislation in Springfield. ComEd admitted the conduct in a 2020 deferred prosecution agreement and paid a $200 million penalty.}}
{{FAQ|question=Did Michael Madigan appeal his conviction?|answer=Yes. The U.S. Court of Appeals for the Seventh Circuit affirmed all 10 guilty verdicts on April 27, 2026, in a ruling written by Judge Michael Scudder. The court rejected arguments about the jury instructions and the proof of a quid pro quo.}}
{{FAQ|question=When will Michael Madigan be released?|answer=Federal inmates generally serve at least 85 percent of their sentences. Under that standard, Madigan, born in 1942, would be in his late 80s before becoming eligible for release. A precise release date is set by the Bureau of Prisons.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Public Corruption]]
[[Category:Bribery]]
[[Category:Wire_Fraud]]
[[Category:Currently Incarcerated]]

{{#seo:
|title=Michael Madigan — Former Illinois House Speaker, ComEd Corruption Case | Prisonpedia
|title_mode=replace
|description=Michael Madigan, former Illinois House Speaker, was convicted on 10 federal corruption counts in the ComEd case and sentenced to 7½ years. Full case file, verdict breakdown, sentencing, and appeal.
|keywords=Michael Madigan, Mike Madigan, Madigan ComEd, Madigan conviction, Madigan sentencing, Illinois House Speaker corruption, Madigan bribery, Madigan prison Morgantown, Madigan appeal
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
}}

{{MetaDescription|Michael Madigan, former Speaker of the Illinois House, was convicted on 10 federal corruption counts in the ComEd case and sentenced to 7½ years in prison. Case file, verdict, sentencing, and appeal on Prisonpedia.}}

Carl Spence

JasonHarris — Wed, 03 Jun 2026 14:28:42 GMT

copyedit: set DEFAULTSORT sort key

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			{{DEFAULTSORT:Spence, Carl}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Wire_Fraud]]		[[Category:Wire_Fraud]]

Carl Spence

Orderly — Wed, 03 Jun 2026 14:28:38 GMT

Create article: Carl Spence (federal case)

New page

{{Infobox Person
|name = Carl Channing Spence
|birth_place = Texas, United States
|residence = Mont Belvieu, Texas
|charges = Wire fraud (18 U.S.C. § 1343)
|conviction_date = 2026
|plea = Guilty
|sentence = 120 months (10 years) federal prison, 3 years supervised release
|sentencing_date = May 2026
|judge = Hon. Lee H. Rosenthal
|case_number = U.S. District Court, Southern District of Texas (Houston Division)
|facility = Federal Bureau of Prisons custody
|status = Incarcerated
|known_for = AEI Financial "meme stock" Ponzi scheme
}}

'''Carl Channing Spence''' is an American man from Mont Belvieu, Texas, who was convicted of [[wire fraud]] for running a Ponzi-style investment scheme through a business he called AEI Financial. He ran the operation out of his home. Between January 2022 and August 2023 he took in about $2.1 million from people he knew. He told them he traded "meme stocks" and could return 10 to 12 percent.<ref name="doj">U.S. Department of Justice, U.S. Attorney's Office, Southern District of Texas. "Houston-area resident sentenced to 10 years for stock investment Ponzi scheme." 2026. https://www.justice.gov/usao-sdtx/pr/houston-area-resident-sentenced-10-years-stock-investment-ponzi-scheme</ref><ref name="baytownsentence">Baytown Sun. "Mont Belvieu man sentenced to 10 years in federal prison for 'meme' stock Ponzi-scheme." 2026. https://baytownsun.com/local/mont-belvieu-man-sentenced-to-10-years-in-federal-prison-for-meme-stock-ponzi-scheme/article_a8576e9f-a380-4e01-bf74-d115b75ffeab.html</ref>

The money was not invested as promised. Spence moved much of it to his own use. He paid earlier investors with funds from newer ones, which kept the scheme looking solvent. He sent investors account statements that showed gains that did not exist.<ref name="doj"/><ref name="bluebonnet">Bluebonnet News. "Mont Belvieu man sentenced to 10 years for stock investment Ponzi scheme." May 30, 2026. https://bluebonnetnews.com/2026/05/30/mont-belvieu-man-sentenced-to-10-years-for-stock-investment-ponzi-scheme/</ref>

Spence pleaded guilty to wire fraud in early 2026. In May 2026, U.S. District Judge Lee H. Rosenthal sentenced him to 120 months in federal prison, followed by three years of supervised release. The case was handled in the Southern District of Texas. Investigators identified 19 victims.<ref name="doj"/><ref name="baytownsentence"/><ref name="investmentexec">Investment Executive. "Meme stock Ponzi schemer gets 10 years." 2026. https://www.investmentexecutive.com/news/regulation/meme-stock-ponzi-schemer-gets-10-years/</ref>

== Background ==

Spence lived in Mont Belvieu, a small city in Chambers County, Texas, east of Houston. He was in his early forties at the time of his guilty plea.<ref name="baytownplea">Baytown Sun. "Mont Belvieu man pleads guilty to 'meme stock' Ponzi-scheme." 2026. https://baytownsun.com/local/mont-belvieu-man-pleads-guilty-to-meme-stock-ponzi-scheme/article_8bced8db-f37c-4f05-9e8e-1510e41ed8e6.html</ref> He drew his investors from people in his own circle. Court filings describe friends, acquaintances, and colleagues. Prosecutors said he targeted people he knew well, including some he understood to be vulnerable.<ref name="doj"/><ref name="bluebonnet"/>

The scheme used the language of retail stock trading that became common during the 2021 and 2022 market runs. "Meme stocks" were shares that surged on social media attention rather than company fundamentals. Spence told investors he traded those names and could deliver steady double-digit returns from them.<ref name="doj"/><ref name="baytownsentence"/>

== AEI Financial and the Scheme ==

Spence operated under the name AEI Financial. He ran it from his residence in Mont Belvieu. He did not register it as a licensed brokerage or advisory firm in the public record cited by prosecutors.<ref name="doj"/><ref name="baytownplea"/>

The pitch was specific. Spence told investors that AEI Financial put money into popular stocks during a period of fast market gains. He promised returns of 10 to 12 percent. He solicited the investments directly from people he knew.<ref name="doj"/><ref name="baytownsentence"/>

The trading did not happen as described. Spence diverted a large share of the incoming money to personal use. He used new investor deposits to pay people who had invested earlier. That cycle is the core mechanic of a [[Ponzi scheme]]: returns appear to come from profit, but they come from later investors' principal.<ref name="doj"/><ref name="bluebonnet"/>

To sustain the appearance of success, Spence produced account statements. The statements showed investment growth and returns that were not real. Investors who received them believed their balances were rising. They were not. The activity ran from January 2022 through August 2023.<ref name="bluebonnet"/><ref name="baytownplea"/>

The total taken in was approximately $2.1 million. Federal prosecutors identified 19 victims tied to the scheme.<ref name="doj"/><ref name="investmentexec"/>

== Charges and Conviction ==

The U.S. Attorney's Office for the Southern District of Texas charged Spence with wire fraud under 18 U.S.C. § 1343. Wire fraud applies when a scheme to defraud is carried out using interstate electronic communications.<ref name="doj"/><ref name="baytownplea"/>

Spence pleaded guilty in early 2026. At the plea stage the offense carried a statutory maximum of 20 years in federal prison and a fine of up to $250,000.<ref name="baytownplea"/><ref name="doj"/>

The Federal Bureau of Investigation's Houston field office investigated the case. The Mont Belvieu Police Department also took part. Assistant U.S. Attorneys prosecuted the matter for the Southern District of Texas.<ref name="doj"/><ref name="bluebonnet"/>

== Sentencing ==

U.S. District Judge Lee H. Rosenthal sentenced Spence in May 2026. The term was 120 months in the custody of the Federal Bureau of Prisons. The court added three years of supervised release to follow the prison term.<ref name="doj"/><ref name="baytownsentence"/>

At the sentencing hearing, three of the 19 known victims spoke. They described losses to their finances and to their plans for the future. The court addressed the nature of the conduct directly. It noted that Spence solicited from friends, colleagues, and members of his community, and that some of the people he drew in were particularly exposed to harm.<ref name="doj"/><ref name="bluebonnet"/>

The 120-month sentence sits well below the 20-year statutory maximum for a single wire fraud count. The court also imposed supervised release, a period after prison during which a defendant remains under federal monitoring and conditions.<ref name="doj"/><ref name="baytownsentence"/>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Carl Channing Spence?|answer=Carl Channing Spence is a Mont Belvieu, Texas man who ran a roughly $2.1 million Ponzi-style investment scheme through a business he called AEI Financial. He told investors he traded "meme stocks" for returns of 10 to 12 percent. He pleaded guilty to wire fraud and was sentenced in 2026 to 10 years in federal prison.}}
{{FAQ|question=What was Carl Spence convicted of?|answer=Spence pleaded guilty to wire fraud under 18 U.S.C. § 1343. The charge stemmed from a Ponzi-style scheme he ran from January 2022 through August 2023 that took in about $2.1 million from 19 victims.}}
{{FAQ|question=How long is Carl Spence's sentence?|answer=U.S. District Judge Lee H. Rosenthal sentenced Spence to 120 months, or 10 years, in federal prison. The court also imposed three years of supervised release to follow the prison term.}}
{{FAQ|question=What was AEI Financial?|answer=AEI Financial was the name Spence used for his operation. He ran it from his home in Mont Belvieu, Texas. He told investors AEI Financial put money into popular "meme stocks" and could return 10 to 12 percent. The trading did not happen as described. He used new investor money to pay earlier investors and diverted much of the rest to personal use.}}
{{FAQ|question=How much money was involved?|answer=The scheme took in approximately $2.1 million. Federal prosecutors identified 19 victims.}}
{{FAQ|question=How did Carl Spence get caught?|answer=The FBI's Houston field office and the Mont Belvieu Police Department investigated the case. The U.S. Attorney's Office for the Southern District of Texas charged Spence with wire fraud, and he pleaded guilty in early 2026.}}
{{FAQ|question=Where is Carl Spence incarcerated?|answer=Spence was remanded to the custody of the Federal Bureau of Prisons after his 2026 sentencing. The specific facility has not been identified in the public record cited here.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Wire_Fraud]]
[[Category:Securities_Fraud]]
[[Category:Ponzi_Schemes]]
[[Category:Currently Incarcerated]]

{{#seo:
|title=Carl Channing Spence — AEI Financial Meme Stock Ponzi Scheme, Wire Fraud Case | Prisonpedia
|title_mode=replace
|description=Carl Channing Spence of Mont Belvieu, Texas ran the AEI Financial "meme stock" Ponzi scheme. Convicted of wire fraud and sentenced in 2026 to 10 years in federal prison. Full case file.
|keywords=Carl Channing Spence, Carl Spence AEI Financial, meme stock Ponzi scheme, Mont Belvieu wire fraud, AEI Financial Texas, Spence Ponzi scheme sentence
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
}}

{{MetaDescription|Carl Channing Spence of Mont Belvieu, Texas ran the AEI Financial "meme stock" Ponzi scheme. Convicted of wire fraud, sentenced in 2026 to 10 years in federal prison. Case file on Prisonpedia.}}

Meade Lewis

JasonHarris — Wed, 03 Jun 2026 14:28:34 GMT

copyedit: set DEFAULTSORT sort key

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			{{DEFAULTSORT:Lewis, Meade}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Wire_Fraud]]		[[Category:Wire_Fraud]]

Meade Lewis

Orderly — Wed, 03 Jun 2026 14:28:30 GMT

Create article: Meade Lewis (federal case)

New page

{{Infobox Person
|name = Meade Lewis
|age = 32 (as of 2026)
|residence = Temple Terrace, Florida
|occupation = Technology executive; founder and CEO of mIQroTech, Inc.
|charges = Wire fraud (5 counts), charged
|status = Charged; awaiting trial
|plea = Not guilty
|case_status = Indicted May 26, 2026; released pending trial
|court = U.S. District Court, Middle District of Florida (Tampa Division)
|forfeiture_sought = $7,096,458 (alleged)
|maximum_penalty = Up to 20 years per count (if convicted)
|known_for = Founder and CEO of mIQroTech, an oil-and-gas pipeline leak-detection startup
}}

'''Meade Lewis''' is an American technology executive from the Tampa, Florida area. He is the founder, chief executive officer, and majority shareholder of mIQroTech, Inc., a startup that develops sensor and software systems for detecting leaks in oil and gas pipelines.<ref name="doj">{{cite web |title=Founder and CEO of mIQroTech, Inc., a Technology Company in the Oil and Gas Industry, Indicted for Defrauding Investors of More Than $7 Million |url=https://www.justice.gov/usao-mdfl/pr/founder-and-ceo-miqrotech-inc-technology-company-oil-and-gas-industry-indicted |publisher=U.S. Department of Justice, U.S. Attorney's Office, Middle District of Florida |date=2026-05-26 |access-date=2026-06-03}}</ref><ref name="bizobserver">{{cite news |last=Hielscher |first=John |title=Tampa tech CEO, founder indicted for defrauding investors out of $7M |url=https://www.businessobserverfl.com/news/2026/may/26/tampa-tech-ceo-founder-indicted-for-defrauding-investors-of-7-million/ |work=Business Observer |date=2026-05-26 |access-date=2026-06-03}}</ref>

On May 26, 2026, a federal grand jury in the Middle District of Florida returned an indictment charging Lewis with five counts of wire fraud. Prosecutors allege that between October 2020 and May 2023 he raised more than $7 million from investors by making false and misleading statements about mIQroTech's finances, customers, and product, and that he diverted some investor money to his own use.<ref name="doj" /><ref name="bizobserver" /> Lewis was 32 years old at the time of the indictment.<ref name="sunshine">{{cite news |title=Founder of mIQroTech indicted for alleged $7 million investor fraud in Tampa |url=https://sunshinesentinel.com/founder-of-miqrotech-indicted-for-alleged-7-million-investor-fraud-in-tampa/ |work=Sunshine Sentinel |date=2026-05-26 |access-date=2026-06-03}}</ref>

Lewis has not been convicted of any crime. He pleaded not guilty at his arraignment on May 26, 2026, and was released pending trial.<ref name="bizobserver" /> An indictment is a formal accusation. It is not evidence of guilt, and a defendant is presumed innocent unless and until proven guilty in a court of law.<ref name="doj" /> The charges remain allegations. The case was pending as of June 2026, with a status conference scheduled for June 16, 2026.<ref name="bizobserver" />

== Background ==

Lewis built a public profile in the Florida technology sector before the charges. He was named to the Forbes 30 Under 30 list in 2021.<ref name="bizobserver" /> He has described himself as an Eagle Scout and has given a TEDx talk on pipeline leak detection.<ref name="bizobserver" /><ref name="tampabay">{{cite news |title=Tampa tech CEO accused of bilking $7M from startup investors |url=https://www.tampabay.com/news/crime/2026/05/28/tampa-miqrotech-investor-wire-fraud-meade-lewis/ |work=Tampa Bay Times |date=2026-05-28 |access-date=2026-06-03}}</ref>

Before founding mIQroTech, Lewis worked in the oil and gas industry. According to reporting on the case, he served as a chief information officer at two energy companies earlier in his career.<ref name="bizobserver" /> He is a resident of the Tampa area. Court records and local reporting place his residence in Temple Terrace, a suburb northeast of Tampa.<ref name="tampabay28">{{cite news |title=Temple Terrace tech CEO accused of defrauding investors out of more than $7 million: DOJ |url=https://www.tampabay28.com/news/region-hillsborough/temple-terrace-tech-ceo-accused-of-defrauding-investors-out-of-more-than-7-million-doj |work=ABC Action News (WFTS Tampa Bay) |date=2026-05-27 |access-date=2026-06-03}}</ref>

== mIQroTech ==

Lewis founded mIQroTech in 2017.<ref name="bizobserver" /> The company describes itself as a technology firm focused on the oil and gas industry. Its core product is a leak-detection system meant to find pipeline leaks early, before they grow into larger spills.<ref name="doj" /><ref name="tampabay" />

The startup positioned itself as an environmental-technology play. Its pitch tied pipeline monitoring to spill prevention and reduced environmental damage.<ref name="tampabay" /> mIQroTech raised capital from outside investors during the period covered by the indictment. Reporting on the case identifies Chevron Technology Ventures, through its Catalyst program, among the investors connected to the company.<ref name="bizobserver" />

The company won recognition in the technology and energy space during its growth, and Lewis used that visibility in fundraising. The product and the company's standing with industry partners are central to the government's allegations, because prosecutors say Lewis misrepresented both to investors.<ref name="doj" /><ref name="bizobserver" />

== The Allegations ==

The indictment covers conduct that prosecutors place between October 2020 and May 2023.<ref name="bizobserver" /> The government alleges that Lewis raised more than $7 million from investors by telling them things about mIQroTech that were not true.<ref name="doj" />

Prosecutors allege the false statements fell into three areas. First, the company's finances. Second, its customers. Third, its product.<ref name="doj" /> According to the indictment, Lewis sent emails to investors containing false and misleading statements, and he prepared pitch decks that included misleading financial information and false representations about the business.<ref name="doj" /><ref name="bizobserver" />

The government also alleges that Lewis did not use all of the money the way he told investors he would. Prosecutors say he applied some investor funds to his own personal enrichment.<ref name="doj" /><ref name="tampabay" /> Court filings cited in local reporting describe specific transfers, including a $1 million transfer on June 1, 2021, and a $3 million transfer on June 3, 2021, into accounts that Lewis controlled.<ref name="bizobserver" />

These are allegations. The indictment sets out the government's theory of the case. It does not establish that any of it happened. Lewis has pleaded not guilty and has the right to contest the charges at trial.<ref name="doj" /><ref name="bizobserver" />

== Charges ==

Lewis is charged with five counts of wire fraud.<ref name="doj" /> Wire fraud is a federal offense under 18 U.S.C. § 1343. It covers schemes to obtain money or property through false or fraudulent pretenses carried out using interstate wire communications, which includes email and electronic funds transfers.

The indictment was returned in the Middle District of Florida and is being handled in the Tampa Division.<ref name="doj" /> United States Attorney Gregory W. Kehoe announced the charges.<ref name="doj" /> The case was investigated by the Federal Bureau of Investigation.<ref name="sunshine" /> Assistant United States Attorney Ross Roberts is prosecuting the case, and Assistant United States Attorney Blain Goff is handling the forfeiture portion.<ref name="bizobserver" /><ref name="sunshine" />

If convicted, Lewis faces a maximum penalty of up to 20 years in federal prison on each of the five counts.<ref name="doj" /> The indictment also includes a forfeiture notice. The government states its intent to seek forfeiture of at least $7,096,458, which it alleges represents proceeds traceable to the charged offenses.<ref name="doj" /><ref name="sunshine" />

Lewis was arraigned on May 26, 2026, in a hearing that lasted about twelve minutes. He entered a plea of not guilty and was released.<ref name="bizobserver" /> A status conference was set for June 16, 2026.<ref name="bizobserver" /> A maximum penalty is set by statute. Any sentence in a federal case, if there is a conviction, is imposed by the court after consideration of the U.S. Sentencing Guidelines and other statutory factors, and is typically well below the statutory maximum.

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Meade Lewis?|answer=Meade Lewis is a technology executive from the Tampa, Florida area. He is the founder, chief executive officer, and majority shareholder of mIQroTech, Inc., a startup that develops leak-detection technology for oil and gas pipelines. He was named to the Forbes 30 Under 30 list in 2021.}}
{{FAQ|question=What is Meade Lewis charged with?|answer=A federal grand jury in the Middle District of Florida charged Lewis on May 26, 2026, with five counts of wire fraud. Prosecutors allege he raised more than $7 million from investors between October 2020 and May 2023 by making false statements about mIQroTech's finances, customers, and product. The charges are allegations. Lewis has pleaded not guilty and has not been convicted.}}
{{FAQ|question=Has Meade Lewis been convicted?|answer=No. Lewis has been charged by indictment, not convicted. He pleaded not guilty at his arraignment on May 26, 2026, and was released pending trial. An indictment is a formal accusation, not evidence of guilt. He is presumed innocent unless and until proven guilty in court.}}
{{FAQ|question=What is mIQroTech?|answer=mIQroTech, Inc. is a Tampa-area technology startup founded by Lewis in 2017. It develops systems intended to detect leaks in oil and gas pipelines early, with the stated goal of preventing larger spills. Reporting on the case identifies Chevron Technology Ventures, through its Catalyst program, among the company's investors.}}
{{FAQ|question=How much money is involved in the case?|answer=Prosecutors allege Lewis raised more than $7 million from investors through false statements. The indictment includes a forfeiture notice seeking at least $7,096,458, an amount the government alleges represents proceeds of the charged offenses. These figures reflect the government's allegations, which Lewis is contesting.}}
{{FAQ|question=What sentence does Meade Lewis face?|answer=Each of the five wire fraud counts carries a maximum penalty of up to 20 years in federal prison if there is a conviction. A maximum penalty is set by statute. Any actual sentence would be decided by the court after a conviction, based on the U.S. Sentencing Guidelines and other factors, and is typically far below the statutory maximum. Lewis has not been convicted.}}
{{FAQ|question=Who is prosecuting the case?|answer=The case is being handled by the U.S. Attorney's Office for the Middle District of Florida. U.S. Attorney Gregory W. Kehoe announced the charges. Assistant U.S. Attorney Ross Roberts is prosecuting, and Assistant U.S. Attorney Blain Goff is handling forfeiture. The Federal Bureau of Investigation investigated the case.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Wire_Fraud]]
[[Category:White_Collar_Crime]]
[[Category:Awaiting Trial]]

{{#seo:
|title=Meade Lewis — mIQroTech Founder Charged in $7M Investor Wire Fraud Case | Prisonpedia
|title_mode=replace
|description=Meade Lewis, founder and CEO of Tampa startup mIQroTech, was indicted in May 2026 on five counts of wire fraud over alleged investor fraud. He has pleaded not guilty and is presumed innocent.
|keywords=Meade Lewis, mIQroTech, mIQroTech fraud, Meade Lewis indictment, Tampa wire fraud, Middle District of Florida wire fraud, Meade Lewis charged, pipeline leak detection startup
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
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{{MetaDescription|Meade Lewis, founder and CEO of Tampa startup mIQroTech, was indicted in May 2026 on five counts of wire fraud over alleged investor fraud. He has pleaded not guilty and is presumed innocent.}}

Mark Angarola

SamuelPark — Wed, 03 Jun 2026 14:25:28 GMT

Add DEFAULTSORT for last-name category sorting

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			{{DEFAULTSORT:Angarola, Mark}}
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	[[Category:Embezzlement]]		[[Category:Embezzlement]]

Mark Angarola

Orderly — Wed, 03 Jun 2026 14:25:25 GMT

Create article: Mark Angarola (federal case)

New page

{{Infobox Person
|name = Mark Angarola
|residence = Point Lookout, New York
|charges = Wire fraud conspiracy (1 count), Tax evasion (1 count)
|sentence = 38 months federal prison, 3 years supervised release
|sentencing_date = December 18, 2025
|restitution = $9,023,444.96
|forfeiture = $2,679,445.26
|judge = Hon. Dale E. Ho
|court = U.S. District Court, Southern District of New York
|status = Sentenced
|occupation = Technology account executive
|known_for = $8.3 million embezzlement scheme at an IT services company
}}

'''Mark Angarola''' is an American former technology executive from Point Lookout, New York. He was a senior account manager at an information technology services firm. For roughly nine years he ran an embezzlement scheme that stole about $8.3 million from his employer. He pleaded guilty to wire fraud conspiracy and tax evasion. On December 18, 2025, U.S. District Judge Dale E. Ho sentenced him to 38 months in federal prison.<ref name="irs2025">{{cite web |title=Tech company executive sentenced to prison for multimillion-dollar embezzlement scheme and tax evasion |url=https://www.irs.gov/compliance/criminal-investigation/tech-company-executive-sentenced-to-prison-for-multimillion-dollar-embezzlement-scheme-and-tax-evasion |publisher=Internal Revenue Service, Criminal Investigation |date=2025-12-18 |access-date=2026-06-03}}</ref>

Angarola held the title of global account general manager. He managed his employer's relationship with one large client, a subsidiary of a global financial institution. He used that position to bill personal expenses to the company and to place his wife, friends, and his own assistant in no-show jobs. The fraudulent expenses ran from May 2010 through February 2019. They included restaurant meals, hotel stays, a cruise, transportation, and visits to gentlemen's clubs.<ref name="register2024">{{cite news |last=Mann |first=Tobias |title=Five charged with fraud over $7M+ in alleged bogus expenses |url=https://www.theregister.com/2024/01/19/5_fake_expenses_claim/ |work=The Register |date=2024-01-19 |access-date=2026-06-03}}</ref>

He also failed to report the stolen money on his taxes. Over four years he evaded about $668,000 in federal taxes. For two of those years he filed no return at all. The court ordered him to forfeit $2,679,445.26 and to pay restitution of $9,023,444.96.<ref name="irs2025"/>

== Background ==

Angarola lived in Point Lookout, a small community on the Long Island shoreline in Nassau County, New York.<ref name="irs2025"/> He worked in the information technology services sector. By 2010 he had risen to a senior management role at an IT consultancy. His title was global account general manager.<ref name="register2024"/>

The job put him in charge of one client account. That client was a subsidiary of a global financial institution.<ref name="register2024"/> Angarola approved invoices and expense claims tied to the account. The IT consultancy paid those costs and passed them through to the client. He controlled which charges were approved. That authority became the center of the fraud.<ref name="irs2025"/>

The IT consultancy was not named in court filings. A New Jersey subcontractor handled staffing on the account. Angarola directed that subcontractor on who to hire and which expenses to pay.<ref name="register2024"/>

== The Embezzlement Scheme ==

The scheme ran from approximately May 2010 through February 2019. Over that span it caused a loss of more than $8 million.<ref name="irs2025"/> Prosecutors put the total embezzlement figure at about $8.3 million.<ref name="irs2025"/>

The fraud had two parts. The first was no-show jobs. Angarola arranged for the subcontractor to put people on the payroll who did no IT work. The people he placed included his wife, several friends, and his executive assistant. Their backgrounds did not match the work. The group included a schoolteacher, a homemaker, a police sergeant, and a manager from the construction industry. None had the qualifications to perform information technology work.<ref name="register2024"/> They drew paychecks the client funded.<ref name="irs2025"/>

The second part was personal expenses billed as business costs. Angarola approved invoices for charges that had nothing to do with the account. The charges covered restaurant meals, hotel stays, a cruise, and private car service. They also covered visits to gentlemen's clubs.<ref name="register2024"/> The IT consultancy paid the bills. The client absorbed the cost.<ref name="irs2025"/>

Federal prosecutors charged five people in the scheme in January 2024. The group included Angarola, his wife Allison Angarola, his friend Jose Garcia, Garcia's wife Michelle Cox, and his assistant Lisa Mincak. Garcia controlled several corporate and limited liability entities that received money from the scheme.<ref name="register2024"/> Court filings traced individual gains. Garcia took the largest share at roughly $4.7 million. Angarola took about $1.5 million directly. Allison Angarola took $751,641, Cox took $335,500, and Mincak took $88,793.<ref name="register2024"/>

== Tax Evasion ==

Angarola did not declare the money he took from the scheme. The stolen funds were income. He hid them from the Internal Revenue Service.<ref name="irs2025"/>

The tax evasion spanned four years. Across those years he evaded about $668,000 in federal taxes.<ref name="irs2025"/> For two of the four years he filed no tax return. He paid no federal income tax for those years at all.<ref name="irs2025"/>

== Charges and Sentencing ==

A grand jury in the Southern District of New York returned charges in the case. Five defendants were arrested in January 2024.<ref name="register2024"/> Angarola pleaded guilty to wire fraud conspiracy and tax evasion.<ref name="irs2025"/>

U.S. District Judge Dale E. Ho sentenced Angarola on December 18, 2025. The sentence was 38 months in federal prison. It included three years of supervised release to follow.<ref name="irs2025"/>

The court also imposed financial penalties. Angarola was ordered to forfeit $2,679,445.26. He was ordered to pay restitution of $9,023,444.96.<ref name="irs2025"/>

U.S. Attorney Jay Clayton announced the sentence. The investigation was handled by IRS Criminal Investigation, New York Field Office; the Federal Bureau of Investigation, New York Field Office; and the U.S. Department of Labor, Office of Inspector General, Northeast Regional Office.<ref name="irs2025"/>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Mark Angarola?|answer=Mark Angarola is a former technology executive from Point Lookout, New York. He was a global account general manager at an IT services firm. He pleaded guilty to wire fraud conspiracy and tax evasion after running a multiyear embezzlement scheme at the company.}}
{{FAQ|question=What did Mark Angarola do?|answer=Angarola used his management position at an IT services company to steal about $8.3 million. He billed personal expenses to the company and placed his wife, friends, and assistant in no-show jobs over roughly nine years. He also evaded about $668,000 in federal taxes.}}
{{FAQ|question=How long is Mark Angarola's sentence?|answer=U.S. District Judge Dale E. Ho sentenced Angarola on December 18, 2025, to 38 months in federal prison, followed by three years of supervised release.}}
{{FAQ|question=How much did Mark Angarola steal?|answer=The embezzlement scheme caused a loss of more than $8 million, with prosecutors citing a figure of about $8.3 million. He was ordered to pay restitution of $9,023,444.96 and to forfeit $2,679,445.26.}}
{{FAQ|question=What was Mark Angarola charged with?|answer=Angarola pleaded guilty to one count of wire fraud conspiracy and one count of tax evasion in the U.S. District Court for the Southern District of New York.}}
{{FAQ|question=How did the embezzlement scheme work?|answer=Angarola approved fraudulent invoices and expenses that his employer paid, and he arranged for unqualified people, including a schoolteacher, a homemaker, a police sergeant, and a construction manager, to be hired into no-show jobs. The fraudulent expenses included meals, hotels, a cruise, transportation, and gentlemen's clubs.}}
{{FAQ|question=Where is Mark Angarola incarcerated?|answer=Court records and the Department of Justice announcement did not identify the specific federal facility designated for Angarola. The Bureau of Prisons assigns facilities after sentencing.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Embezzlement]]
[[Category:Tax_Fraud]]
[[Category:White_Collar_Crime]]
[[Category:Sentenced]]

{{#seo:
|title=Mark Angarola — Tech Executive Embezzlement and Tax Evasion Case | Prisonpedia
|title_mode=replace
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|keywords=Mark Angarola, Mark Angarola embezzlement, Mark Angarola tax evasion, Mark Angarola sentenced, IT services embezzlement, Point Lookout New York fraud, Dale E. Ho
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{{MetaDescription|Mark Angarola — former technology executive who embezzled about $8.3 million and evaded $668,000 in taxes. Charges, sentencing, restitution, and case file on Prisonpedia.}}

Dakota Smith

TerryMoses — Wed, 03 Jun 2026 14:25:21 GMT

copyedit: set DEFAULTSORT sort key

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			{{DEFAULTSORT:Smith, Dakota}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Ponzi_Schemes]]		[[Category:Ponzi_Schemes]]

Dakota Smith

Orderly — Wed, 03 Jun 2026 14:25:18 GMT

Create article: Dakota Smith (federal case)

New page

{{Infobox Person
|name = Dakota A. Smith
|residence = Miami, Florida
|charges = Conspiracy to commit wire fraud (18 U.S.C. § 1349)
|conviction_date = November 18, 2025 (guilty plea)
|sentence = 188 months federal prison, 3 years supervised release
|sentencing_date = May 8, 2026
|judge = Hon. Sheryl H. Lipman, Chief U.S. District Judge
|court = U.S. District Court, Western District of Tennessee
|facility = Federal Bureau of Prisons
|status = Incarcerated
|occupation = Investment promoter
|known_for = Peoples Equity Group Ponzi scheme
}}

'''Dakota A. Smith''' is an American former investment promoter from Miami, Florida. He ran a fraud scheme through a company called Peoples Equity Group, often shortened to PEG. The scheme took in more than $27 million from investors and caused losses exceeding $20 million.<ref name="doj-sentence">U.S. Department of Justice, U.S. Attorney's Office, Western District of Tennessee. "Florida Man Sentenced to Over 15 Years in Prison for His Role in Ponzi Scheme, Losses Exceed $20 Million." May 2026.</ref><ref name="doj-plea">U.S. Department of Justice, U.S. Attorney's Office, Western District of Tennessee. "Florida Man Pleads Guilty to Defrauding Investors in Ponzi Scheme that Took in Over $27 Million." November 2025.</ref>

PEG operated out of Miami from 2021 to 2024. Smith told investors the company owned small, profitable businesses in e-commerce and aviation. He offered ownership stakes in those businesses. Neither PEG nor its affiliated entities held any ownership or control over the companies Smith marketed. On monthly video calls, Smith showed investors financial documents that purported to demonstrate the success of the acquired companies. The documents were fabricated.<ref name="doj-sentence" /><ref name="doj-plea" />

Smith pleaded guilty on November 18, 2025, to one count of conspiracy to commit wire fraud.<ref name="doj-plea" /> On May 8, 2026, Chief U.S. District Judge Sheryl H. Lipman sentenced him to 188 months in federal prison, about 15.6 years, followed by three years of supervised release. The case was prosecuted in the Western District of Tennessee.<ref name="doj-sentence" /> A co-defendant, Simon G. Outhwaite Jr. of Miami, pleaded guilty to the same charge in May 2026.<ref name="doj-second">U.S. Department of Justice, U.S. Attorney's Office, Western District of Tennessee. "Second Man Pleads Guilty for Role in Ponzi Scheme that took in Over $27 Million in Investments." 2026.</ref>

== Background ==

Smith was a resident of Miami, Florida.<ref name="doj-plea" /> He worked as an investment promoter and was the public face of Peoples Equity Group, an investment firm he ran with a partner. He marketed the firm to investors across the United States and abroad, including in West Tennessee, which placed the case under the jurisdiction of the Western District of Tennessee.<ref name="doj-sentence" /><ref name="doj-second" />

Public details about Smith's life before PEG are limited in the court record. The government's filings focus on the conduct of the scheme rather than his earlier history. The Federal Bureau of Investigation opened a victim-information portal tied to the case, an indication that investors were spread across a wide geographic area.<ref name="fbi-victims">Federal Bureau of Investigation. "Seeking Victim Information in Dakota Smith Investigation." forms.fbi.gov.</ref>

== The Ponzi Scheme ==

Peoples Equity Group operated from 2021 through 2024.<ref name="doj-plea" /> Smith pitched the company as a holding firm that owned a portfolio of small but profitable operating businesses. The pitch centered on two sectors. The first was e-commerce. The second was aviation. Smith told investors that buying into PEG would give them ownership interests in those underlying companies.<ref name="doj-sentence" />

The companies were not owned by PEG. The Justice Department stated that neither PEG nor its affiliated entities had any ownership stake in or control over the businesses Smith described. The firm marketed several named entities to investors. These included Peoples Equity Group, United Ventures, Skyhigh Technologies Inc., SurroundScape, EasyBloom, EasyWhite, DoNotAge, the Oaktide Aviation Fund, and United Publishing Holdings.<ref name="doj-second" />

Smith reinforced the pitch with fabricated paperwork. He held monthly video calls with investors. On those calls he presented fraudulent financial documents that purported to show how well the acquired companies were performing. The numbers were not real.<ref name="doj-sentence" />

The structure followed the classic Ponzi pattern. Money raised from new investors was the source of the operation rather than any genuine business profit. The scheme took in more than $27 million in total investments. Investor losses exceeded $20 million.<ref name="doj-sentence" /><ref name="doj-plea" /> Investors were located across the United States and overseas.<ref name="doj-second" />

== Charges and Conviction ==

Smith was charged in the Western District of Tennessee with conspiracy to commit wire fraud under 18 U.S.C. § 1349. The charge carried a statutory maximum of 20 years in federal prison.<ref name="doj-plea" />

He pleaded guilty on November 18, 2025, before U.S. District Judge Sheryl H. Lipman. He admitted to one count of conspiracy to commit wire fraud and acknowledged that he and his co-conspirator knew PEG did not own or control the companies they marketed.<ref name="doj-plea" />

His co-defendant was Simon G. Outhwaite Jr. of Miami. Outhwaite pleaded guilty to the same charge in May 2026, admitting that he conspired with Smith to defraud investors. Outhwaite was the second of the two men to enter a plea.<ref name="doj-second" />

The case was investigated by the Federal Bureau of Investigation. D. Michael Dunavant, U.S. Attorney for the Western District of Tennessee, announced the charges and the outcome.<ref name="doj-sentence" /><ref name="fbi-victims" />

== Sentencing ==

Chief U.S. District Judge Sheryl H. Lipman sentenced Smith on May 8, 2026. The sentence was 188 months in the custody of the Federal Bureau of Prisons. That term is about 15.6 years. The court added three years of supervised release to follow the prison term.<ref name="doj-sentence" />

The 188-month sentence sat near the top of the 20-year statutory maximum for the single conspiracy count. The size of the investor losses, more than $20 million, was a driving factor under the federal sentencing guidelines, which tie fraud offense levels closely to the dollar amount of loss.<ref name="doj-sentence" />

Outhwaite's sentencing was set to follow his May 2026 plea.<ref name="doj-second" />

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=What did Dakota Smith do?|answer=Dakota A. Smith ran a Ponzi scheme through Peoples Equity Group, a Miami investment firm he operated from 2021 to 2024. He told investors the firm owned profitable e-commerce and aviation companies and offered them ownership stakes. The firm owned none of those companies. He backed the pitch with fabricated financial documents shown on monthly video calls. The scheme took in over $27 million and caused losses exceeding $20 million.}}
{{FAQ|question=How long is Dakota Smith's sentence?|answer=On May 8, 2026, Chief U.S. District Judge Sheryl H. Lipman sentenced Smith to 188 months in federal prison, about 15.6 years, followed by three years of supervised release.}}
{{FAQ|question=What was Dakota Smith charged with?|answer=Smith was charged with one count of conspiracy to commit wire fraud under 18 U.S.C. § 1349. He pleaded guilty to that count on November 18, 2025.}}
{{FAQ|question=What was Peoples Equity Group?|answer=Peoples Equity Group, or PEG, was a Miami-based investment company Smith operated from 2021 to 2024. He marketed it as a firm that owned profitable e-commerce and aviation businesses. Court filings established that PEG did not own or control the companies it advertised.}}
{{FAQ|question=Who was Dakota Smith's co-defendant?|answer=Simon G. Outhwaite Jr. of Miami was Smith's co-conspirator. Outhwaite pleaded guilty to one count of conspiracy to commit wire fraud in May 2026, admitting he conspired with Smith to defraud investors.}}
{{FAQ|question=Where was Dakota Smith prosecuted?|answer=The case was prosecuted in the U.S. District Court for the Western District of Tennessee. Investors located in West Tennessee gave the district jurisdiction. The FBI investigated, and U.S. Attorney D. Michael Dunavant announced the case.}}
{{FAQ|question=How much money was involved?|answer=The scheme took in more than $27 million in total investments. Investor losses exceeded $20 million.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Ponzi_Schemes]]
[[Category:Wire_Fraud]]
[[Category:Currently Incarcerated]]

{{#seo:
|title=Dakota Smith — Peoples Equity Group Ponzi Scheme, 188-Month Federal Sentence | Prisonpedia
|title_mode=replace
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{{MetaDescription|Dakota A. Smith of Miami ran the Peoples Equity Group Ponzi scheme that took in over $27 million. He was sentenced in May 2026 to 188 months in federal prison in the Western District of Tennessee.}}

Brett Blackman

JasonHarris — Wed, 03 Jun 2026 14:25:14 GMT

copyedit: set DEFAULTSORT sort key

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	<references />		<references />

			{{DEFAULTSORT:Blackman, Brett}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Health Care Fraud]]		[[Category:Health Care Fraud]]

Brett Blackman

Orderly — Wed, 03 Jun 2026 14:25:08 GMT

Create article: Brett Blackman (federal case)

New page

{{Infobox Person
|name = Brett Blackman
|age = 42 (at time of conviction)
|birth_place = Johnson County, Kansas
|residence = Johnson County, Kansas
|occupation = Founder and CEO, HealthSplash
|charges = Conspiracy to commit health care fraud and wire fraud; Conspiracy to pay and receive health care kickbacks; Conspiracy to defraud the United States and to make false statements in connection with health care matters
|conviction_date = May 14, 2026
|status = Convicted, awaiting sentencing
|sentencing_date = August 26, 2026 (scheduled)
|judge = U.S. District Court, Southern District of Florida
|case_number = Southern District of Florida
|known_for = $1 billion Medicare fraud conspiracy involving the DMERx platform
}}

'''Brett Blackman''' is an American businessman who founded and served as chief executive officer of HealthSplash, a health care software company. On May 14, 2026, a federal jury in the U.S. District Court for the Southern District of Florida convicted him of three conspiracy counts tied to a Medicare fraud scheme that billed federal health care programs more than $1 billion.<ref name="doj">U.S. Department of Justice, Office of Public Affairs. "Owner of Health Care Software Company Convicted of $1 Billion Dollar Medicare Fraud Conspiracy." May 14, 2026.</ref><ref name="cbs">CBS News. "Software company owner convicted for running 'cold, calculated' $1 billion Medicare fraud scheme." May 14, 2026.</ref>

The case centered on an internet-based platform called Power Mobility Doctor Rx, LLC, known as DMERx. HealthSplash acquired DMERx in September 2017. Prosecutors said the platform generated false doctors' orders and prescriptions for durable medical equipment, including orthotic braces that beneficiaries did not need. The orders carried the appearance of a genuine doctor's examination. In many cases the signing physician never spoke to the patient at all. Telemedicine companies were paid to sign. The equipment was then billed to Medicare and other federal programs.<ref name="doj"/><ref name="medecon">Medical Economics. "Jury convicts health care CEO for $1B Medicare fraud scheme." May 2026.</ref>

Federal programs were billed more than $1 billion under the scheme. They paid out more than $450 million.<ref name="doj"/><ref name="cbs"/> Blackman was convicted of conspiracy to commit health care fraud and wire fraud, conspiracy to pay and receive health care kickbacks, and conspiracy to defraud the United States and to make false statements in connection with health care matters. He awaits sentencing. A sentencing hearing is scheduled for August 26, 2026.<ref name="doj"/> He faces a statutory maximum of 20 years in prison on the health care and wire fraud conspiracy count, plus five years on each of the two remaining counts.<ref name="doj"/><ref name="cbs"/>

== Background ==

Brett Blackman was 42 years old at the time of his conviction. He is from Johnson County, Kansas.<ref name="tampafp">Tampa Free Press. "Florida Tech CEO From Kansas Busted In Massive $1 Billion Medicare Fraud Takedown." May 2026.</ref><ref name="ksn">KSN. "Kansas man found guilty in $1 billion healthcare fraud scheme." May 2026.</ref>

Blackman founded HealthSplash and served as its owner and chief executive. The company operated as a health care software business. Court records describe Blackman as the person who owned, controlled, and ran it.<ref name="doj"/> The conduct underlying the case stretched from at least 2015 through 2020. It touched several states. Prosecutors said the operation ran in and around South Florida, including Miami-Dade County, as well as in Kansas and Arizona.<ref name="doj"/><ref name="newsweek">Newsweek. "Fake Doctor Orders, Prescriptions: $1B Florida Medicare Fraud Conviction." May 2026.</ref>

== HealthSplash and the Scheme ==

In September 2017, HealthSplash acquired Power Mobility Doctor Rx, LLC. The company went by DMERx. It was an internet-based platform. Its function, according to the Justice Department, was to generate false and fraudulent doctors' orders for durable medical equipment and prescriptions for other items.<ref name="doj"/>

The platform sat at the center of a network. On one side were pharmacies, durable medical equipment suppliers, and marketers. On the other were telemedicine companies. DMERx connected them. The telemedicine companies accepted illegal kickbacks and bribes in exchange for signed doctors' orders. The orders were then used to bill Medicare and other federal health care programs.<ref name="doj"/><ref name="medecon"/>

The orders and prescriptions generated through DMERx stated that a physician had examined and treated the beneficiary. That representation was false. Prosecutors said the doctors were paid to sign. They signed without regard to medical necessity. In some instances there was no interaction with the beneficiary at all.<ref name="doj"/>

Reaching beneficiaries required volume. The scheme targeted hundreds of thousands of Medicare beneficiaries. Co-conspirators used overseas call centers and mailers to reach seniors and press them to accept orthotic braces and other equipment.<ref name="cbs"/><ref name="newsweek"/> The items were medically unnecessary. The signed orders made them look otherwise. The bills went to Medicare.<ref name="doj"/>

Federal programs were billed more than $1 billion. They paid more than $450 million on those bills.<ref name="doj"/><ref name="cbs"/>

A co-conspirator, Gary Cox, was convicted in an earlier proceeding. Cox was sentenced to 15 years in prison.<ref name="cbs"/><ref name="medecon"/>

== Trial and Conviction ==

Blackman was tried in the U.S. District Court for the Southern District of Florida. The jury returned its verdict on May 14, 2026. It convicted him on all three conspiracy counts.<ref name="doj"/><ref name="cbs"/>

The counts were conspiracy to commit health care fraud and wire fraud, conspiracy to pay and receive health care kickbacks, and conspiracy to defraud the United States and to make false statements in connection with health care matters.<ref name="doj"/>

Trial Attorneys Darren C. Halverson and Reginald Cuyler Jr. of the Justice Department Criminal Division's Fraud Section prosecuted the case.<ref name="doj"/> The investigation was conducted by the Department of Health and Human Services Office of Inspector General, the Federal Bureau of Investigation, the Department of Veterans Affairs Office of Inspector General, and the Defense Criminal Investigative Service.<ref name="doj"/><ref name="tampafp"/>

After the verdict, Acting Attorney General Todd Blanche described the conduct as "cold, calculated, industrial-scale theft targeting the sick and elderly."<ref name="cbs"/>

== Awaiting Sentencing ==

Blackman has been convicted. He has not been sentenced. A sentencing hearing is scheduled for August 26, 2026, before the U.S. District Court for the Southern District of Florida.<ref name="doj"/><ref name="cbs"/>

The statutory maximums set the outer bound of what the court may impose. The conspiracy to commit health care fraud and wire fraud count carries a maximum of 20 years in prison. Each of the remaining two counts carries a maximum of five years.<ref name="doj"/><ref name="cbs"/> A federal district judge determines the actual sentence. The judge weighs the U.S. Sentencing Guidelines, the facts of the case, and the factors set out in 18 U.S.C. § 3553(a). The statutory maximum is a ceiling, not the expected term.<ref name="doj"/>

As of June 2026, Blackman has not been designated to a Bureau of Prisons facility. Defendants in federal cases are generally not designated until after sentencing.

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Brett Blackman?|answer=Brett Blackman is the founder and former chief executive officer of HealthSplash, a health care software company. On May 14, 2026, a federal jury in the Southern District of Florida convicted him of three conspiracy counts in a Medicare fraud scheme that billed federal health care programs more than $1 billion. He is awaiting sentencing.}}
{{FAQ|question=What was Brett Blackman convicted of?|answer=A federal jury convicted Blackman of conspiracy to commit health care fraud and wire fraud, conspiracy to pay and receive health care kickbacks, and conspiracy to defraud the United States and to make false statements in connection with health care matters. The verdict was returned on May 14, 2026.}}
{{FAQ|question=Has Brett Blackman been sentenced?|answer=No. Blackman was convicted on May 14, 2026, but has not been sentenced. A sentencing hearing is scheduled for August 26, 2026, in the U.S. District Court for the Southern District of Florida.}}
{{FAQ|question=How much prison time does Brett Blackman face?|answer=He faces a statutory maximum of 20 years in prison on the conspiracy to commit health care fraud and wire fraud count, plus a maximum of five years on each of the two remaining counts. The actual sentence will be determined by the court at the August 26, 2026 hearing and may be less than the maximum.}}
{{FAQ|question=What was the HealthSplash and DMERx scheme?|answer=HealthSplash acquired an internet platform called DMERx (Power Mobility Doctor Rx, LLC) in September 2017. Prosecutors said the platform generated false doctors' orders and prescriptions for durable medical equipment, including unnecessary orthotic braces. Telemedicine companies were paid kickbacks to sign orders for patients they never examined. The equipment was billed to Medicare.}}
{{FAQ|question=How much money was involved?|answer=Federal health care programs were billed more than $1 billion under the scheme. They paid out more than $450 million on those claims.}}
{{FAQ|question=Who were Brett Blackman's co-conspirators?|answer=A co-conspirator named Gary Cox was convicted in an earlier proceeding and sentenced to 15 years in prison. The Justice Department said Blackman worked with other co-conspirators, including telemedicine companies, marketers, pharmacies, and durable medical equipment suppliers.}}
{{FAQ|question=Which court handled the Brett Blackman case?|answer=The case was tried in the U.S. District Court for the Southern District of Florida. The case was prosecuted by the Justice Department Criminal Division's Fraud Section and investigated by HHS-OIG, the FBI, the VA Office of Inspector General, and the Defense Criminal Investigative Service.}}
{{FAQ|question=Where is Brett Blackman from?|answer=Blackman is from Johnson County, Kansas. He was 42 years old at the time of his conviction. The fraud conduct spanned South Florida, Kansas, and Arizona between at least 2015 and 2020.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Health Care Fraud]]
[[Category:White_Collar_Crime]]
[[Category:Awaiting Sentencing]]

{{#seo:
|title=Brett Blackman — HealthSplash CEO Convicted in $1 Billion Medicare Fraud | Prisonpedia
|title_mode=replace
|description=Brett Blackman, founder and CEO of HealthSplash, was convicted May 14, 2026 of a $1 billion Medicare fraud conspiracy involving the DMERx platform. Sentencing set for August 26, 2026.
|keywords=Brett Blackman, HealthSplash, DMERx, Medicare fraud, orthotic braces, telemedicine fraud, health care fraud conspiracy, Southern District of Florida, Gary Cox, durable medical equipment fraud
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
}}

{{MetaDescription|Brett Blackman, founder and CEO of HealthSplash, was convicted in May 2026 of a $1 billion Medicare fraud conspiracy built on the DMERx platform and unnecessary orthotic braces. He awaits sentencing on August 26, 2026.}}

Gary Cox

JasonHarris — Wed, 03 Jun 2026 14:25:05 GMT

Add DEFAULTSORT for last-name category sorting

← Older revision		Revision as of 14:25, 3 June 2026
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	<references />		<references />

			{{DEFAULTSORT:Cox, Gary}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Health Care Fraud]]		[[Category:Health Care Fraud]]

Gary Cox

Orderly — Wed, 03 Jun 2026 14:25:01 GMT

Create article: Gary Cox (federal case)

New page

{{Infobox Person
|name = Gary Cox
|age = 79 (at sentencing)
|residence = Maricopa County, Arizona
|charges = Conspiracy to commit health care fraud and wire fraud; health care fraud (3 counts); conspiracy to pay and receive health care kickbacks; conspiracy to defraud the United States and make false statements relating to health care matters
|conviction_date = June 3, 2025
|sentence = 15 years (180 months) in federal prison
|sentencing_date = December 2025
|restitution = More than $452 million
|judge = Hon. David S. Leibowitz
|case_number = 1:23-cr-20271 (S.D. Fla.)
|status = Incarcerated
|occupation = Software company executive
|known_for = Operating the DMERx platform; $1 billion Medicare fraud conspiracy
}}

'''Gary Cox''' is an American former software company executive convicted in 2025 of running a health care fraud conspiracy built around DMERx, an internet platform that produced false and fraudulent doctors' orders. Cox was the chief executive of Power Mobility Doctor Rx, LLC, the company behind DMERx.<ref name="oig">U.S. Department of Health and Human Services, Office of Inspector General. "CEO of Health Care Software Company Convicted of $1 Billion Fraud Conspiracy." 2025.</ref><ref name="hme">HME News. "Owner of DMERx sentenced to jail, ordered to pay restitution." December 2025.</ref>

The DMERx platform sat at the center of the scheme. It generated doctors' orders for orthotic braces, prescription pain creams, genetic tests, and other items, and it transmitted those orders to durable medical equipment suppliers and pharmacies. The orders looked legitimate. Many were not. Telemedicine companies paid doctors to sign them based on a short phone call with a Medicare beneficiary or no contact at all. Suppliers and pharmacies that paid kickbacks for the orders then billed Medicare and other insurers more than $1 billion. Medicare and the insurers paid out more than $360 million.<ref name="oig"/><ref name="becker">Becker's Hospital Review. "Arizona man sentenced to 15 years for $1B telemedicine fraud scheme." December 2025.</ref>

A federal jury in Miami convicted Cox on June 3, 2025, after a multi-week trial.<ref name="oig"/> In December 2025, U.S. District Judge David S. Leibowitz sentenced him to 15 years in federal prison and ordered him to pay more than $452 million in restitution.<ref name="hme"/><ref name="ij">Insurance Journal. "CEO Sentenced in Miami to 15 Years in One of the Largest Health Care Fraud Cases." December 22, 2025.</ref> Cox was 79 years old at sentencing and had been living in Maricopa County, Arizona.<ref name="becker"/><ref name="ij"/>

== Background ==

Public records on Cox's early life are limited. Court filings and government statements identify him as a resident of Maricopa County, Arizona, and list his age as 79 at the time of sentencing.<ref name="becker"/><ref name="ij"/>

Cox served as the chief executive officer of Power Mobility Doctor Rx, LLC. The company owned and operated the DMERx platform.<ref name="oig"/> Two other executives, Brett Blackman and Gregory Schreck, were charged in connection with the same conspiracy. Schreck, a vice president tied to the HealthSplash Network platform, pleaded guilty in February 2025. Blackman's case was handled separately after a mistrial.<ref name="afs">ArentFox Schiff. "CEO of Health Care Software Company Convicted of $1 Billion in Medicare Fraud." 2025.</ref>

== DMERx ==

DMERx was an internet-based software platform. Its function was to produce doctors' orders for durable medical equipment and prescription items, then route those orders to the companies that would bill federal health care programs.<ref name="oig"/>

The platform connected several types of participants. On one side were durable medical equipment suppliers, pharmacies, and marketers who needed signed orders to bill. On the other were telemedicine companies that could supply those signatures. DMERx linked the two. The marketers obtained the personal and Medicare information of beneficiaries. The telemedicine companies paid doctors to sign orders for those beneficiaries. DMERx generated the paperwork and transmitted it.<ref name="oig"/><ref name="becker"/>

The orders carried a specific false representation. Each one stated that a physician had examined and treated the beneficiary. In most cases that did not happen. Doctors signed based on a brief telephone call or with no patient interaction at all, and without regard to whether the item was medically necessary.<ref name="oig"/>

Prosecutors described a second platform in the same orbit, the HealthSplash Network, used alongside DMERx in the broader conspiracy.<ref name="afs">ArentFox Schiff. "CEO of Health Care Software Company Convicted of $1 Billion in Medicare Fraud." 2025.</ref>

== The Scheme ==

The fraud started with beneficiaries. Cox and his co-conspirators targeted hundreds of thousands of Medicare beneficiaries. They reached them through misleading mailers, television advertisements, and calls from offshore call centers. The beneficiaries handed over their personal identifying information and agreed to accept items they did not need.<ref name="oig"/><ref name="becker"/>

The items were medically unnecessary. They included orthotic braces, prescription pain creams, and other products and tests. The beneficiaries had not been examined by a treating physician for any of it.<ref name="oig"/>

DMERx turned that raw information into billable orders. The platform produced doctors' orders that named the beneficiaries and the items. Telemedicine companies paid kickbacks and bribes to doctors to sign. The signed orders went to suppliers and pharmacies through the platform.<ref name="oig"/><ref name="becker"/>

The suppliers and pharmacies then billed. They submitted claims to Medicare and other insurers totaling more than $1 billion. The programs and insurers paid more than $360 million on those claims before the conduct was stopped.<ref name="oig"/><ref name="becker"/>

The participants took steps to hide the arrangement. Prosecutors said they used sham contracts to disguise the kickbacks and edited doctors' orders to survive Medicare audits.<ref name="afs"/> The case was part of a wider federal enforcement effort against telemedicine and durable medical equipment fraud.<ref name="afs"/>

== Charges and Conviction ==

Cox was charged in the U.S. District Court for the Southern District of Florida. The case was captioned ''United States v. Blackman et al.'', case number 1:23-cr-20271.<ref name="govinfo">U.S. Government Publishing Office. "23-20271 - USA v. Blackman et al." govinfo.gov.</ref>

He went to trial in Miami. On June 3, 2025, a federal jury convicted him on all counts presented.<ref name="oig"/><ref name="afs"/> The counts of conviction were:

* Conspiracy to commit health care fraud and wire fraud
* Health care fraud (three counts)
* Conspiracy to pay and receive health care kickbacks
* Conspiracy to defraud the United States and make false statements relating to health care matters<ref name="oig"/>

After the verdict, prosecutors told the court Cox faced a statutory maximum of decades in prison across the combined counts.<ref name="local10">Local 10 News. "Ex-healthcare software company executive could face up to 60 years in prison, prosecutors say." June 6, 2025.</ref>

== Sentencing ==

U.S. District Judge David S. Leibowitz sentenced Cox in December 2025.<ref name="hme"/><ref name="ij"/> The court imposed a term of 15 years, or 180 months, in federal prison.<ref name="oig2">U.S. Department of Health and Human Services, Office of Inspector General. "CEO of Health Care Software Company Sentenced for $1B Fraud Conspiracy." December 2025.</ref><ref name="becker"/>

The court also ordered restitution of more than $452 million.<ref name="hme"/><ref name="becker"/> Prosecutors had asked for a 15-year term, a request they framed as accounting for Cox's age, and the judge imposed it.<ref name="ij"/>

Reporting placed the sentencing among the largest health care fraud sentences handed down in the district.<ref name="ij"/> The exact hearing date was not stated in public coverage at the time of this writing; news reports published December 22, 2025 described the sentencing as having occurred the prior week, and a sentencing memorandum was filed on the court docket on December 18, 2025.<ref name="ij"/><ref name="memo">U.S. District Court, Southern District of Florida. Sentencing memorandum, ''United States v. Cox'', case 1:23-cr-20271 (filed December 2025).</ref>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Gary Cox?|answer=Gary Cox is a former software company executive who served as chief executive of Power Mobility Doctor Rx, LLC, the company behind the DMERx platform. A federal jury in Miami convicted him in June 2025 of a health care fraud conspiracy that used DMERx to generate false doctors' orders, leading to more than $1 billion in claims to Medicare and other insurers.}}
{{FAQ|question=What was Gary Cox convicted of?|answer=A federal jury convicted Cox on June 3, 2025 of conspiracy to commit health care fraud and wire fraud, three counts of health care fraud, conspiracy to pay and receive health care kickbacks, and conspiracy to defraud the United States and make false statements relating to health care matters.}}
{{FAQ|question=What is DMERx?|answer=DMERx was an internet-based software platform operated by Cox's company. It generated doctors' orders for orthotic braces, pain creams, genetic tests, and other items, then transmitted them to durable medical equipment suppliers and pharmacies. The orders falsely stated that a physician had examined and treated the beneficiary, when in fact doctors signed based on a brief phone call or no patient contact at all.}}
{{FAQ|question=How much did the DMERx scheme cost Medicare?|answer=Suppliers and pharmacies that paid kickbacks for the false orders billed Medicare and other insurers more than $1 billion. Medicare and the insurers paid more than $360 million on those claims.}}
{{FAQ|question=How long is Gary Cox's sentence?|answer=U.S. District Judge David S. Leibowitz sentenced Cox in December 2025 to 15 years, or 180 months, in federal prison. The court also ordered him to pay more than $452 million in restitution.}}
{{FAQ|question=How much restitution did Gary Cox have to pay?|answer=The court ordered Cox to pay more than $452 million in restitution following his conviction.}}
{{FAQ|question=Where was Gary Cox prosecuted?|answer=Cox was prosecuted in the U.S. District Court for the Southern District of Florida, in Miami. The case number is 1:23-cr-20271, and the case was captioned United States v. Blackman et al.}}
{{FAQ|question=Were others charged in the DMERx case?|answer=Yes. Two other executives, Brett Blackman and Gregory Schreck, were charged in connection with the conspiracy. Schreck pleaded guilty in February 2025. Blackman's case was handled separately after a mistrial.}}
{{FAQ|question=How old is Gary Cox?|answer=Cox was 79 years old at the time of his sentencing in December 2025. He had been living in Maricopa County, Arizona.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Health Care Fraud]]
[[Category:White_Collar_Crime]]
[[Category:Incarcerated]]

{{#seo:
|title=Gary Cox — DMERx CEO, $1 Billion Medicare Fraud Case | Prisonpedia
|title_mode=replace
|description=Gary Cox, CEO of the DMERx platform, was convicted of a $1 billion Medicare fraud conspiracy and sentenced to 15 years with $452M restitution. Full case file.
|keywords=Gary Cox, DMERx, Power Mobility Doctor Rx, Medicare fraud, health care fraud, telemedicine fraud, durable medical equipment fraud, Gary Cox sentenced, $1 billion Medicare fraud
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
}}

{{MetaDescription|Gary Cox, CEO of the DMERx platform, was convicted of a $1 billion Medicare fraud conspiracy and sentenced to 15 years in federal prison with more than $452 million in restitution. Case file on Prisonpedia.}}

Rathnakishore Giri

ClaudeReid — Wed, 03 Jun 2026 14:24:58 GMT

add {{DEFAULTSORT}} for proper category ordering

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			{{DEFAULTSORT:Giri, Rathnakishore}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Wire_Fraud]]		[[Category:Wire_Fraud]]

Rathnakishore Giri

Orderly — Wed, 03 Jun 2026 14:24:54 GMT

Create article: Rathnakishore Giri (federal case)

New page

{{Infobox Person
|name = Rathnakishore Giri
|residence = New Albany, Ohio
|charges = Wire fraud
|conviction_date = October 4, 2024
|sentence = 108 months (9 years) federal prison, 3 years supervised release
|sentencing_date = May 18, 2026
|judge = Hon. Algenon L. Marbley
|case_number = 2:22-cr-00203 (S.D. Ohio)
|facility = Federal Bureau of Prisons
|status = Incarcerated
|occupation = Investment manager
|known_for = $10 million cryptocurrency Ponzi scheme; continued fraud after guilty plea
}}

'''Rathnakishore Giri''' is an American former investment manager from New Albany, Ohio, who ran a cryptocurrency Ponzi scheme that took in more than $10 million from investors. He marketed himself as an expert trader of Bitcoin derivatives and told investors he could deliver large returns with no risk to their principal, which he guaranteed to repay. He did not trade most of the money. He used funds from new investors to pay earlier ones and spent investor cash on cars, watches, private jets, and vacation rentals.<ref name="cftime">The Crypto Times. "Ohio Man Sentenced to Nine Years for $10M Crypto Ponzi Scheme." May 19, 2026. https://www.cryptotimes.io/2026/05/19/ohio-man-sentenced-to-nine-years-for-10m-crypto-ponzi-scheme/</ref><ref name="theblock">The Block. "Ohio man sentenced to 9 years for running $10 million crypto Ponzi scheme." May 18, 2026. https://www.theblock.co/post/401761/ohio-man-sentenced-to-9-years-for-running-10-million-crypto-ponzi-scheme</ref>

Giri was charged in November 2022 with five counts of wire fraud in the [[United States District Court for the Southern District of Ohio|Southern District of Ohio]]. He pleaded guilty to one count on October 4, 2024. What happened next set the case apart. While free on pretrial release and waiting to be sentenced, Giri kept soliciting money from new cryptocurrency investors. He later admitted to that conduct under an amended plea agreement. The continued fraud became a central fact at sentencing.<ref name="decrypt">Decrypt. "Ohio Man Gets 9 Years for $10M Bitcoin Trading Ponzi Scheme." May 18, 2026. https://decrypt.co/368310/ohio-man-gets-9-years-for-10m-bitcoin-trading-ponzi-scheme</ref><ref name="theblock"/>

On May 18, 2026, Chief U.S. District Judge Algenon L. Marbley sentenced Giri to 108 months in federal prison, followed by three years of supervised release.<ref name="cftime"/><ref name="theblock"/> The Commodity Futures Trading Commission had filed a parallel civil case against Giri and two of his companies in 2022, alleging the scheme drew in more than $12 million and at least ten Bitcoin from over 150 customers.<ref name="financefeeds">FinanceFeeds. "CFTC charges Rathnakishore Giri with $12m Bitcoin ponzi scheme." 2022. https://financefeeds.com/cftc-charges-rathnakishore-giri-with-12m-bitcoin-ponzi-scheme/</ref>

== Background ==

Giri lived in New Albany, Ohio, a suburb northeast of Columbus.<ref name="cftime"/> He was 31 years old at the time of his sentencing.<ref name="decrypt"/> He worked as an investment manager and operated two firms, NBD Eidetic Capital, LLC and SR Private Equity, LLC.<ref name="financefeeds"/>

Giri presented himself to potential investors as a successful cryptocurrency trader. He specialized, by his own account, in Bitcoin derivatives.<ref name="cftime"/> Many of his victims came from the Columbus area.<ref name="theblock"/> Prosecutors said he built an image of wealth to attract money. He drove two Lamborghinis, a Tesla, and an Audi R8. He collected high-end watches. He flew on private jets and stayed in luxury vacation rentals.<ref name="cftime"/> Those purchases were funded with investor money.<ref name="decrypt"/>

The appearance of success did the work. People who saw the cars and the lifestyle believed the returns were real.<ref name="cftime"/>

== The Scheme ==

Giri told investors a simple story. He was an expert. He traded Bitcoin derivatives. He would generate large returns. Their principal carried no risk, and he guaranteed it would come back to them.<ref name="decrypt"/> Each of those promises was false.<ref name="cftime"/>

Investors handed over money expecting it to be traded. Much of it was not. Giri used cash from new investors to pay supposed returns to earlier investors.<ref name="theblock"/> That structure, where fresh deposits fund payouts rather than real profit, is the defining mechanic of a [[Ponzi scheme]].<ref name="decrypt"/> The payouts kept old investors calm and kept the money flowing in. The trading results that were supposed to back them did not exist at the scale he claimed.

The scheme took in at least $10 million from investors.<ref name="theblock"/> The CFTC, which counted both U.S. dollars and cryptocurrency contributions across his firms, put the total above $12 million and at least ten Bitcoin, drawn from more than 150 customers.<ref name="financefeeds"/>

== Charges and Guilty Plea ==

On November 18, 2022, a federal grand jury charged Giri with five counts of wire fraud.<ref name="cftime"/> The case was filed in the U.S. District Court for the Southern District of Ohio in Columbus.<ref name="theblock"/> Wire fraud is prosecuted under 18 U.S.C. § 1343 and covers schemes to defraud carried out through interstate electronic communications.

The same year, the Commodity Futures Trading Commission filed a separate civil enforcement action. It named Giri along with NBD Eidetic Capital, LLC and SR Private Equity, LLC. The CFTC alleged the defendants solicited more than $12 million and at least ten Bitcoin from over 150 customers for purported digital asset trading funds.<ref name="financefeeds"/>

On October 4, 2024, Giri appeared before Chief Judge Algenon L. Marbley and pleaded guilty to one count of wire fraud.<ref name="cftime"/><ref name="theblock"/> Under the plea, the remaining counts would be resolved at sentencing. He was released pending that hearing.<ref name="decrypt"/>

== Continued Fraud on Release ==

The plea did not stop the conduct. While on pretrial release and awaiting sentencing, Giri continued to solicit money from cryptocurrency investors.<ref name="theblock"/> New victims lost money to him after he had already admitted, under oath, to running a fraud.<ref name="decrypt"/>

The Department of Justice described the new conduct as causing additional harm to new victims.<ref name="cftime"/> Ahead of sentencing, Giri admitted to it. The admission was formalized through an amended plea agreement with the government.<ref name="theblock"/>

The case drew attention for that reason. A defendant who keeps defrauding people after pleading guilty exposes a gap in how pretrial release is monitored. Giri was not in custody between his plea and his sentencing. That window gave him room to keep working the same scheme. The continued solicitation became an aggravating factor that weighed on the term he ultimately received.<ref name="decrypt"/>

== Sentencing ==

The sentencing hearing was held on May 18, 2026, before Chief Judge Algenon L. Marbley in Columbus.<ref name="theblock"/> Judge Marbley sentenced Giri to 108 months in the custody of the Federal Bureau of Prisons. That is nine years. The court added three years of supervised release to follow the prison term.<ref name="cftime"/><ref name="decrypt"/>

Nine years sits well above the typical range for a fraud of this dollar size. The post-plea conduct accounts for the difference. Giri kept defrauding investors after admitting guilt, and the court weighed that when it imposed the term.<ref name="decrypt"/>

The Department of Justice did not publicly disclose a total restitution figure or a final victim count in its announcement of the sentence.<ref name="theblock"/> The Federal Bureau of Investigation's Cincinnati Field Office investigated the criminal case. The Justice Department's Criminal Division Fraud Section prosecuted it.<ref name="cftime"/>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Rathnakishore Giri?|answer=Rathnakishore Giri is a former investment manager from New Albany, Ohio. He ran a cryptocurrency Ponzi scheme that raised more than $10 million from investors by promising risk-free returns on Bitcoin derivatives trading. He pleaded guilty to wire fraud in 2024 and was sentenced to nine years in federal prison in May 2026.}}
{{FAQ|question=What did Rathnakishore Giri do?|answer=Giri marketed himself as an expert cryptocurrency trader and promised investors large returns with no risk to their principal. Instead of trading most of the money, he used funds from new investors to pay earlier ones, the hallmark of a Ponzi scheme. He spent investor money on luxury cars, watches, private jets, and vacation rentals.}}
{{FAQ|question=How long is Rathnakishore Giri's sentence?|answer=Chief U.S. District Judge Algenon L. Marbley sentenced Giri to 108 months, which is nine years, in federal prison, followed by three years of supervised release. The sentence was imposed on May 18, 2026.}}
{{FAQ|question=Why did Rathnakishore Giri get nine years?|answer=After pleading guilty to wire fraud in October 2024, Giri continued to solicit money from new cryptocurrency investors while on pretrial release awaiting sentencing. He admitted to that conduct under an amended plea agreement. The continued fraud was an aggravating factor that pushed his sentence above the usual range for a fraud of this size.}}
{{FAQ|question=How much money did Rathnakishore Giri take?|answer=The criminal case involved at least $10 million raised from investors. A parallel CFTC civil action alleged that Giri and his companies, NBD Eidetic Capital and SR Private Equity, solicited more than $12 million and at least ten Bitcoin from over 150 customers.}}
{{FAQ|question=What companies did Rathnakishore Giri run?|answer=Giri operated two firms, NBD Eidetic Capital, LLC and SR Private Equity, LLC. The Commodity Futures Trading Commission named both companies in its 2022 civil fraud complaint alongside Giri.}}
{{FAQ|question=Where is Rathnakishore Giri incarcerated?|answer=Giri was sentenced in May 2026 to 108 months in the custody of the Federal Bureau of Prisons. The specific facility had not been publicly designated at the time of sentencing.}}
{{FAQ|question=Who prosecuted Rathnakishore Giri?|answer=The case was prosecuted by the Justice Department's Criminal Division Fraud Section and investigated by the FBI's Cincinnati Field Office. It was heard in the U.S. District Court for the Southern District of Ohio before Chief Judge Algenon L. Marbley.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Wire_Fraud]]
[[Category:Cryptocurrency Fraud]]
[[Category:Currently Incarcerated]]

{{#seo:
|title=Rathnakishore Giri — $10M Crypto Ponzi Scheme, Wire Fraud Sentencing | Prisonpedia
|title_mode=replace
|description=Rathnakishore Giri, an Ohio investment manager, ran a $10M cryptocurrency Ponzi scheme and kept defrauding investors after his guilty plea. Sentenced to nine years in May 2026.
|keywords=Rathnakishore Giri, Rathnakishore Giri sentenced, NBD Eidetic Capital, SR Private Equity, crypto Ponzi scheme Ohio, Bitcoin fraud, wire fraud, Algenon Marbley
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
}}

{{MetaDescription|Rathnakishore Giri, an Ohio investment manager, ran a $10M cryptocurrency Ponzi scheme and continued defrauding investors after pleading guilty. Sentenced to nine years in federal prison.}}

Robert Dunlap

TerryMoses — Wed, 03 Jun 2026 14:24:51 GMT

add {{DEFAULTSORT}} for proper category ordering

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			{{DEFAULTSORT:Dunlap, Robert}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Wire_Fraud]]		[[Category:Wire_Fraud]]

Robert Dunlap

Orderly — Wed, 03 Jun 2026 14:24:46 GMT

Create article: Robert Dunlap (federal case)

New page

{{Infobox Person
|name = Robert Dunlap
|birth_place = United States
|residence = Houston, Texas
|charges = Mail fraud (2 counts)
|conviction_date = November 20, 2025
|sentence = 276 months (23 years) federal prison
|sentencing_date = April 15, 2026
|restitution = Ordered; victim losses exceeded $20 million
|judge = Hon. LaShonda A. Hunt
|case_number = U.S. District Court, Northern District of Illinois
|status = Incarcerated
|occupation = Cryptocurrency promoter
|known_for = Meta-1 Coin fraud
}}

'''Robert Dunlap''' is an American man convicted of federal mail fraud for orchestrating the Meta-1 Coin scheme, a cryptocurrency fraud that took in more than $20 million from nearly 1,000 investors between 2018 and 2023.<ref name="doj2026">U.S. Department of Justice, U.S. Attorney's Office, Northern District of Illinois. "Texas Man Who Orchestrated $20 Million Cryptocurrency Scam Sentenced to 23 Years in Prison." April 16, 2026.</ref> Dunlap, of Houston, Texas, sold a purported digital asset called Meta-1 Coin through an entity he ran as the "Meta-1 Coin Trust."<ref name="doj2026"/>

Dunlap told investors the coin was backed by hard assets. He claimed it was secured by as much as $1 billion in fine art and $44 billion in gold.<ref name="doj2026"/> He named works attributed to Pablo Picasso, Salvador Dali, and Vincent van Gogh among the collection.<ref name="doj2026"/> He produced documents stating that an accounting firm had audited the gold and certified its value.<ref name="doj2026"/> Investigators found that Dunlap owned neither the art nor the gold, and that the audit records were fabricated.<ref name="doj2026"/>

A federal jury in Chicago convicted Dunlap on two counts of mail fraud on November 20, 2025, after a week-long trial.<ref name="irs2025">Internal Revenue Service, Criminal Investigation. "Federal jury in Chicago convicts man of orchestrating $14 million cryptocurrency fraud." November 20, 2025.</ref> On April 15, 2026, U.S. District Judge LaShonda A. Hunt sentenced him to 23 years in federal prison and ordered him to pay restitution to his victims.<ref name="doj2026"/><ref name="cbschicago">CBS News Chicago. "Texas man behind $20 million crypto scam gets 23 years in federal prison from Illinois judge." April 16, 2026.</ref> The criminal case was prosecuted in the Northern District of Illinois. A separate civil enforcement action by the U.S. Securities and Exchange Commission had been filed against Dunlap and two associates in 2020 in the Western District of Texas.<ref name="secaction">U.S. Securities and Exchange Commission. "SEC Emergency Action Stops Digital Asset Scam." Press Release 2020-66, March 16, 2020.</ref>

== Background ==

Public records identify Dunlap as a resident of Houston, Texas.<ref name="doj2026"/> He was in his mid-fifties at the time of his conviction.<ref name="suntimes">Chicago Sun-Times. "Cryptocurrency scam sees Chicago jury convict Texas man in $14 million scheme." November 20, 2025.</ref> Court filings in the SEC's earlier civil case listed him as a Florida resident at the time of that 2020 action.<ref name="secaction"/>

Within the Meta-1 operation, Dunlap presented himself as a wealthy financier. He used the title "Executive Trustee" of the Meta-1 Coin Trust and described himself in promotional materials as the project's architect.<ref name="dailybeast">Adkins, Will. "The $9 Million Crypto Scam Backed By a State Senator and a YouTube Psychic." The Daily Beast, June 1, 2020.</ref> He claimed to own a private art collection and to hold rights to a large gold reserve. Neither claim was true.<ref name="doj2026"/>

== Meta-1 Coin ==

Meta-1 Coin was marketed as a stable, asset-backed digital token. Dunlap sold it through the Meta-1 Coin Trust and a related website he operated as the "Meta Exchange."<ref name="irs2025"/> The pitch centered on permanence. Promoters told buyers the coin could not lose value because it was tied to physical reserves.<ref name="secaction"/>

The asset claims changed over the life of the project. Early marketing described a $1 billion art collection.<ref name="dailybeast"/> Later marketing described billions of dollars in gold. By the time of the criminal case, prosecutors cited a claimed backing of $44 billion in gold.<ref name="doj2026"/> The SEC's 2020 complaint described a claimed backing of roughly $2 billion in gold and a $1 billion art collection.<ref name="secaction"/>

Buyers purchased Meta-1 Coin at a price set by the operators. The SEC said the coin sold at $22.22 per unit and that promoters projected a single coin could reach $50,000 within two years, a return the agency calculated at more than 224,000 percent.<ref name="secaction"/> The SEC said the defendants told investors the coin was risk-free and would never decline in value.<ref name="secaction"/>

== The Scheme ==

The fraud ran from 2018 to 2023.<ref name="doj2026"/> Dunlap solicited money from the public on the strength of the asset-backing claims, then concealed the absence of those assets.<ref name="doj2026"/>

To support the gold claim, Dunlap created false legal and financial documents.<ref name="doj2026"/> These included paperwork purporting to show that an accounting firm had reviewed and certified the gold reserves.<ref name="doj2026"/> No such gold existed under his control. The art collection he described was also not his.<ref name="doj2026"/>

Dunlap manipulated the apparent market for the coin. He deployed automated trading bots to inflate the price and trading volume of Meta-1 Coin on the Meta Exchange, the trading website he built.<ref name="irs2025"/> The inflated figures gave investors the impression of genuine demand and rising value.<ref name="doj2026"/>

The money investors paid did not buy any backed asset. Prosecutors said the scheme caused nearly 1,000 investors to lose more than $20 million.<ref name="doj2026"/> The SEC, working from an earlier and narrower window, said the operation had raised over $9 million from at least 500 investors across 40 states and six foreign countries.<ref name="secaction"/>

The project drew attention for the people around it. The SEC named two associates alongside Dunlap. Nicole Bowdler, a social-media personality, served as a trustee and handled what the operation called art acquisition.<ref name="dailybeast"/> David A. Schmidt, a former member of the Washington state legislature, promoted the coin through his blog and broadcasts and defended it publicly against fraud accusations.<ref name="dailybeast"/> The criminal trial in 2025 centered on Dunlap.<ref name="suntimes"/>

== Charges and Conviction ==

The SEC filed the first government action. On March 16, 2020, the agency filed an emergency civil complaint in the U.S. District Court for the Western District of Texas, Austin Division, against the Meta-1 Coin Trust, Dunlap, Bowdler, and Schmidt.<ref name="secaction"/> The complaint charged violations of the antifraud and securities-registration provisions of the federal securities laws and sought an asset freeze.<ref name="secaction"/> The defendants did not answer the complaint, and the court entered default judgment.<ref name="secjudgment">U.S. Securities and Exchange Commission. "SEC v. Meta 1 Coin Trust, Robert Dunlap, Clear International Trust, Nicole Bowdler, and David A. Schmidt." Litigation Release No. 24775.</ref> The court held Meta-1 and Dunlap jointly liable for disgorgement of $10,849,776.47 plus prejudgment interest, and imposed a civil penalty of the same amount.<ref name="secjudgment"/> Bowdler was held liable for disgorgement of $1,540,679.48 plus interest.<ref name="secjudgment"/>

Federal prosecutors in Chicago brought the criminal case. Dunlap was charged with mail fraud for the Meta-1 Coin scheme.<ref name="irs2025"/> His trial lasted about a week. On November 20, 2025, the jury found him guilty on two counts of mail fraud.<ref name="irs2025"/><ref name="suntimes"/> Each count carried a statutory maximum of 20 years, and reporting at the time noted he faced up to 40 years in prison.<ref name="irs2025"/>

The investigation was led by IRS Criminal Investigation and the Federal Bureau of Investigation, with assistance from the SEC and the U.S. Attorney's Office for the Eastern District of Virginia.<ref name="doj2026"/> Assistant U.S. Attorneys Jared Hasten and Paige Nutini prosecuted the case.<ref name="doj2026"/>

== Sentencing ==

Judge LaShonda A. Hunt sentenced Dunlap on April 15, 2026, in the Northern District of Illinois.<ref name="cbschicago">CBS News Chicago. "Texas man behind $20 million crypto scam gets 23 years in federal prison from Illinois judge." April 16, 2026.</ref> The sentence was 23 years, or 276 months, in federal prison.<ref name="doj2026"/> The court also ordered Dunlap to pay restitution to compensate victims for their losses.<ref name="doj2026"/>

At sentencing, prosecutors put the total loss at more than $20 million across nearly 1,000 victims.<ref name="doj2026"/> That figure was higher than the roughly $14 million cited at the time of the November 2025 conviction, reflecting the full accounting of investor losses across the scheme.<ref name="irs2025"/><ref name="doj2026"/> U.S. Attorney Andrew S. Boutros announced the sentence.<ref name="doj2026"/>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Robert Dunlap?|answer=Robert Dunlap is a Houston, Texas, man convicted of federal mail fraud for running the Meta-1 Coin scheme. He sold a cryptocurrency he falsely claimed was backed by gold and fine art, taking in more than $20 million from nearly 1,000 investors between 2018 and 2023.}}
{{FAQ|question=What was Robert Dunlap convicted of?|answer=A federal jury in Chicago convicted Dunlap on two counts of mail fraud on November 20, 2025, after a week-long trial. The conviction stemmed from the Meta-1 Coin cryptocurrency fraud.}}
{{FAQ|question=How long is Robert Dunlap's sentence?|answer=U.S. District Judge LaShonda A. Hunt sentenced Dunlap on April 15, 2026, to 23 years in federal prison and ordered restitution to his victims.}}
{{FAQ|question=What was Meta-1 Coin?|answer=Meta-1 Coin was a digital token Dunlap sold through the Meta-1 Coin Trust. He claimed it was backed by as much as $1 billion in art and $44 billion in gold and that an accounting firm had audited the gold. Investigators found Dunlap owned neither the art nor the gold and that the audit documents were fabricated.}}
{{FAQ|question=How much money did the Meta-1 Coin scheme take?|answer=Prosecutors said the scheme caused nearly 1,000 investors to lose more than $20 million. The earlier SEC civil case described over $9 million raised from at least 500 investors across 40 states and six countries.}}
{{FAQ|question=Who were Robert Dunlap's co-defendants?|answer=The SEC's 2020 civil complaint named Nicole Bowdler, who served as a trustee handling art acquisition, and David A. Schmidt, a former Washington state legislator who promoted the coin. The 2025 criminal trial centered on Dunlap.}}
{{FAQ|question=Where was Robert Dunlap's case prosecuted?|answer=The criminal mail fraud case was prosecuted in the U.S. District Court for the Northern District of Illinois in Chicago. The earlier SEC civil action was filed in the Western District of Texas.}}
{{FAQ|question=How did Robert Dunlap inflate Meta-1 Coin's value?|answer=Dunlap used automated trading bots to inflate the price and trading volume of Meta-1 Coin on the Meta Exchange, a trading website he created, giving investors a false impression of demand and rising value.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Wire_Fraud]]
[[Category:Securities_Fraud]]
[[Category:Ponzi_Schemes]]
[[Category:Cryptocurrency Fraud]]
[[Category:Currently Incarcerated]]

{{#seo:
|title=Robert Dunlap — Meta-1 Coin Cryptocurrency Fraud, Mail Fraud Conviction | Prisonpedia
|title_mode=replace
|description=Robert Dunlap ran the Meta-1 Coin scheme, a $20 million cryptocurrency fraud. Convicted of mail fraud in 2025, sentenced to 23 years in 2026. Full case file on Prisonpedia.
|keywords=Robert Dunlap, Meta-1 Coin, Meta 1 Coin Trust, cryptocurrency fraud, mail fraud, Nicole Bowdler, David Schmidt, gold backed crypto scam, Robert Dunlap sentence
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
}}

{{MetaDescription|Robert Dunlap orchestrated the Meta-1 Coin scheme, a $20 million cryptocurrency fraud. Convicted of mail fraud and sentenced to 23 years in federal prison. Case file on Prisonpedia.}}

Christopher Delgado

JasonHarris — Wed, 03 Jun 2026 14:24:42 GMT

Add DEFAULTSORT for last-name category sorting

← Older revision		Revision as of 14:24, 3 June 2026
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			{{DEFAULTSORT:Delgado, Christopher}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Wire_Fraud]]		[[Category:Wire_Fraud]]

Christopher Delgado

Orderly — Wed, 03 Jun 2026 14:24:38 GMT

Create article: Christopher Delgado (federal case)

New page

{{Infobox Person
|name = Christopher Alexander Delgado
|image =
|residence = Apopka, Florida
|occupation = Former chief executive, Goliath Ventures
|charges = Wire fraud and money laundering (criminal complaint, alleged)
|status = Charged; awaiting trial; presumed innocent
|case_number = United States v. Christopher Alexander Delgado (M.D. Fla.)
|judge =
|sentence = None imposed; faces up to 30 years if convicted
|facility =
|known_for = Goliath Ventures; alleged $328 million cryptocurrency Ponzi scheme
}}

'''Christopher Alexander Delgado''' is an American businessman from Apopka, Florida, and the former president and chief executive officer of Goliath Ventures, a company that solicited cryptocurrency investments. On February 24, 2026, federal prosecutors in the Middle District of Florida announced his arrest on a criminal complaint charging wire fraud and money laundering.<ref name="doj-arrest">{{cite web |title=Goliath Ventures CEO Arrested for Wire Fraud and Money Laundering |url=https://www.justice.gov/usao-mdfl/pr/goliath-ventures-ceo-arrested-wire-fraud-and-money-laundering |publisher=U.S. Attorney's Office, Middle District of Florida |date=2026-02-24 |access-date=2026-06-03}}</ref><ref name="irs-arrest">{{cite web |title=Goliath Ventures CEO arrested for wire fraud and money laundering |url=https://www.irs.gov/compliance/criminal-investigation/goliath-ventures-ceo-arrested-for-wire-fraud-and-money-laundering |publisher=Internal Revenue Service, Criminal Investigation |date=2026-02-24 |access-date=2026-06-03}}</ref>

Delgado has not been convicted of any offense. The charges against him rest on a criminal complaint, which is an accusation. He is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law. The descriptions of his conduct in this article reflect allegations made by federal prosecutors. They have not been tested at trial.<ref name="doj-arrest"/>

Prosecutors allege that from January 2023 through January 2026, Delgado ran Goliath Ventures, formerly known as Gen-Z Venture Firm, as a Ponzi scheme. According to the complaint, the company took in at least $328 million from investors on the promise of monthly returns generated through cryptocurrency "liquidity pools." Prosecutors say the returns were not real and that incoming money was used mainly to pay earlier investors and to fund the operation's spending.<ref name="doj-arrest"/><ref name="cbs12">{{cite news |title=Florida crypto firm CEO arrested in $328 million Ponzi scheme |url=https://cbs12.com/news/florida/florida-crypto-firm-ceo-christopher-delgado-arrested-in-328-million-ponzi-scheme-goliath-ventures-blockchain-liquidity-pools-fabricated-statements-wire-fraud-money-laundering |work=CBS12 News |date=2026-02-24 |access-date=2026-06-03}}</ref> If convicted on the charges, Delgado faces a maximum penalty of 30 years in federal prison.<ref name="irs-arrest"/> In a separate civil action, the government has moved to seize real estate, vehicles, and other assets it says were bought with investor money. Delgado, who was 34 at the time of his arrest, has apologized to investors in a televised interview and said he returned from abroad to surrender.<ref name="forfeiture-doj">{{cite web |title=United States Seeks Civil Forfeiture of Real Properties and Vehicles Purchased with Proceeds of Goliath Ventures Fraud Scheme |url=https://www.justice.gov/usao-mdfl/pr/united-states-seeks-civil-forfeiture-real-properties-and-vehicles-purchased-proceeds |publisher=U.S. Attorney's Office, Middle District of Florida |date=2026-05-12 |access-date=2026-06-03}}</ref><ref name="wftv-apology">{{cite news |last=Jones |first=Daralene |title=Exclusive: Accused Goliath Ventures CEO speaks out on alleged $300M crypto Ponzi scheme |url=https://www.wftv.com/news/local/exclusive-accused-goliath-ventures-ceo-speaks-out-alleged-300m-crypto-ponzi-scheme/6KT4UFQ4FZB5TDWEJJY6GBM4TU/ |work=WFTV |date=2026-05-11 |access-date=2026-06-03}}</ref>

== Background ==

Delgado was 34 years old when he was arrested in February 2026. He lived in Apopka, a city in the Orlando metropolitan area, and the operation he led was based in Central Florida.<ref name="irs-arrest"/><ref name="fox35">{{cite news |title=Who is Christopher Alexander Delgado? Goliath Venture CEO arrested in alleged federal Ponzi scheme |url=https://www.fox35orlando.com/news/who-is-christopher-alexander-delgado-goliath-venture-ceo-arrested-alleged-federal-ponzi-scheme |work=FOX 35 Orlando |date=2026-02-24 |access-date=2026-06-03}}</ref>

In a later interview, Delgado described a working-class upbringing. He said he grew up poor and that his first job paid eight dollars an hour. He framed Goliath as a venture that began with the stated goal of helping ordinary people build wealth.<ref name="wftv-apology"/>

The company he ran was first called Gen-Z Venture Firm. It was later renamed Goliath Ventures. Both names refer to the same entity, according to the government.<ref name="irs-arrest"/>

== Goliath Ventures ==

Goliath Ventures marketed itself as a cryptocurrency investment firm. Delgado served as its president and chief executive officer.<ref name="doj-arrest"/>

The pitch centered on cryptocurrency "liquidity pools." A liquidity pool is a reserve of digital tokens locked into a decentralized exchange, used to enable trading and, in some arrangements, to generate fees for the people who supply the tokens. Goliath told investors it would place their money into such pools and pay them a fixed monthly return on the gains.<ref name="cbs12">{{cite news |title=Florida crypto firm CEO arrested in $328 million Ponzi scheme |url=https://cbs12.com/news/florida/florida-crypto-firm-ceo-christopher-delgado-arrested-in-328-million-ponzi-scheme-goliath-ventures-blockchain-liquidity-pools-fabricated-statements-wire-fraud-money-laundering |work=CBS12 News |date=2026-02-24 |access-date=2026-06-03}}</ref>

Investor contracts promised monthly returns in a range of roughly 3 to 8 percent, according to reporting on the case and on the federal filings.<ref name="fox35"/><ref name="cryptotimes">{{cite news |title=Ex-Goliath Ventures CEO Apologizes as $328M Crypto Scam Charges Mount |url=https://www.cryptotimes.io/2026/05/12/ex-goliath-ventures-ceo-apologizes-as-328m-crypto-scam-charges-mount/ |work=The Crypto Times |date=2026-05-12 |access-date=2026-06-03}}</ref> A monthly return of even 3 percent compounds to a yearly figure far above what conventional investments produce. Returns of that size, paid consistently, are a common warning sign of investment fraud. Prosecutors say the promised gains here were fictitious.<ref name="doj-arrest"/>

The reach of the operation was wide. Reporting on the case describes the investor base as ranging from several hundred to more than 1,500 people. Many were described as ordinary workers, including teachers, nurses, retirees, and firefighters.<ref name="cryptotimes"/> The government's figure for total money raised is at least $328 million.<ref name="doj-arrest"/>

The firm also presented an image of success. Investigators later pointed to lavish company events. One was a James Bond–themed holiday party held at the Fontainebleau resort in Miami Beach. Prosecutors allege these gatherings, along with luxury travel, were paid for with investor money.<ref name="fox35"/><ref name="forfeiture-doj"/>

== The Allegations ==

According to the criminal complaint, Goliath Ventures did not invest most of the money it raised. Prosecutors allege the firm operated as a Ponzi scheme, meaning the returns paid to existing investors came from money put in by newer investors rather than from genuine profit.<ref name="doj-arrest"/>

Blockchain analysis cited in the case indicates that only a small fraction of investor funds ever reached an actual liquidity pool. Reporting on that analysis put the amount sent to a decentralized exchange at roughly $1.5 million, against the hundreds of millions raised.<ref name="cbs12"/> Prosecutors say the rest went elsewhere. Some paid purported returns to earlier investors. Some returned principal to investors who asked for it. The remainder, according to the government, funded the company's parties, travel, and the personal purchases of its chief executive.<ref name="doj-arrest"/>

The civil forfeiture complaint filed in May 2026 lays out the alleged spending in detail. The government moved to seize seven real properties and eleven vehicles it says were bought with proceeds of the scheme.<ref name="forfeiture-doj"/><ref name="irs-forfeiture">{{cite web |title=United States seeks civil forfeiture of real properties and vehicles purchased with proceeds of Goliath Ventures fraud scheme |url=https://www.irs.gov/compliance/criminal-investigation/united-states-seeks-civil-forfeiture-of-real-properties-and-vehicles-purchased-with-proceeds-of-goliath-ventures-fraud-scheme |publisher=Internal Revenue Service, Criminal Investigation |date=2026-05-12 |access-date=2026-06-03}}</ref>

Four residential properties were named in early filings. They were an $8.5 million home in Windermere, a $3.2 million home in Winter Park, a $1.65 million home in Sanford, and a $1.15 million home in Kissimmee.<ref name="fox35"/><ref name="forfeiture-doj"/> The vehicles, according to the government, cost more than $2.5 million in investor funds and included Lamborghinis, a Rolls-Royce, and a Bentley.<ref name="forfeiture-doj"/> The forfeiture filings also identified luxury watches and jewelry, among them Audemars Piguet and Rolex timepieces and pieces from Tiffany & Co., Cartier, and Van Cleef & Arpels.<ref name="forfeiture-doj"/>

These are allegations contained in a civil complaint and a criminal complaint. They have not been proven in court. A forfeiture action is a separate civil proceeding and does not establish criminal guilt.<ref name="forfeiture-doj"/>

=== Delgado's public statements ===

In May 2026, Delgado spoke about the case in a televised interview with WFTV, the ABC affiliate in Orlando. He apologized to the people who had invested.<ref name="wftv-apology"/>

"They put their trust in me. And I failed them," he told the reporter. "At the end of the day, I failed them."<ref name="wftv-apology"/> He said he had returned to the United States to face the charges and to explain what happened. "I had a responsibility to come back," he said. "Not only [to] face the charges, but also give a full picture of what happened."<ref name="wftv-apology"/>

Delgado described the company's finances as collapsing by the end. "By the time the DOJ stepped in, there was only like $160,000 left in the bank account," he said.<ref name="wftv-apology"/> He also indicated he did not believe he had acted alone and said he was cooperating with investigators regarding others connected to the operation.<ref name="cryptotimes"/>

A public apology is not a guilty plea. As of June 2026, Delgado had been charged but not convicted, and the formal resolution of the case remained pending.<ref name="doj-arrest"/>

== Charges ==

The criminal complaint charges Delgado with wire fraud and money laundering.<ref name="doj-arrest"/>

[[Wire fraud]] is a federal offense under 18 U.S.C. § 1343. It covers schemes to defraud that use interstate wire communications, a category that includes electronic transfers, emails, and online transactions. [[Money laundering]] is prosecuted under 18 U.S.C. §§ 1956 and 1957. It involves handling the proceeds of unlawful activity in ways meant to conceal their source or to integrate them into legitimate commerce.<ref name="irs-arrest"/>

If Delgado is convicted on the charges, the maximum penalty is 30 years in federal prison. The figure is a statutory ceiling, not a prediction. Actual sentences in federal fraud cases are set by the court and are typically guided by the United States Sentencing Guidelines.<ref name="irs-arrest"/>

The case was investigated by Internal Revenue Service Criminal Investigation and Homeland Security Investigations. It is being prosecuted by Assistant United States Attorneys Richard Varadan, Noah P. Dorman, and Hannah Nowalk Watson. United States Attorney Gregory W. Kehoe announced the arrest.<ref name="irs-arrest"/>

A criminal complaint is the document that begins many federal cases. It is not a conviction. The next steps in a case of this kind generally include an indictment by a grand jury, an arraignment at which the defendant enters a plea, and either a plea agreement or a trial. As of June 2026, the matter was at an early stage and Delgado remained presumed innocent.<ref name="doj-arrest"/>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Christopher Alexander Delgado?|answer=Christopher Alexander Delgado is the former president and chief executive officer of Goliath Ventures, a Central Florida company that solicited cryptocurrency investments. In February 2026, federal prosecutors in the Middle District of Florida charged him with wire fraud and money laundering in connection with what they describe as a $328 million Ponzi scheme. He has not been convicted and is presumed innocent.}}
{{FAQ|question=What is Christopher Delgado charged with?|answer=He is charged by criminal complaint with wire fraud, under 18 U.S.C. § 1343, and money laundering, under 18 U.S.C. §§ 1956 and 1957. These are allegations. He has not been convicted of any offense.}}
{{FAQ|question=Has Christopher Delgado been convicted?|answer=No. As of June 2026, Delgado had been arrested and charged but not convicted. A criminal complaint is an accusation, and he is presumed innocent unless and until proven guilty in court.}}
{{FAQ|question=What was Goliath Ventures?|answer=Goliath Ventures, formerly called Gen-Z Venture Firm, was a Central Florida company that marketed cryptocurrency investments. Prosecutors allege it took in at least $328 million from investors on the promise of monthly returns from cryptocurrency liquidity pools.}}
{{FAQ|question=How much money is involved in the case?|answer=Prosecutors allege Goliath Ventures raised at least $328 million from investors between January 2023 and January 2026. A separate civil forfeiture action seeks to seize seven properties, eleven vehicles, and other assets the government says were bought with investor money.}}
{{FAQ|question=What sentence does Christopher Delgado face?|answer=No sentence has been imposed. If he is convicted on the charges, the maximum penalty is 30 years in federal prison. Any actual sentence would be set by the court and guided by the federal sentencing guidelines.}}
{{FAQ|question=Did Christopher Delgado apologize?|answer=In a televised interview with WFTV in May 2026, Delgado apologized to investors, saying, "They put their trust in me. And I failed them." He also said he returned from abroad to face the charges. A public apology is not a guilty plea, and the case remained pending as of June 2026.}}
{{FAQ|question=Where is Christopher Delgado incarcerated?|answer=As of June 2026, Delgado had been charged but not convicted, and no facility designation applied. Pretrial custody status in federal cases is determined by the court at a detention hearing.}}
{{FAQ|question=Who is prosecuting the Goliath Ventures case?|answer=The case is being prosecuted in the Middle District of Florida by Assistant United States Attorneys Richard Varadan, Noah P. Dorman, and Hannah Nowalk Watson. It was investigated by Internal Revenue Service Criminal Investigation and Homeland Security Investigations.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Wire_Fraud]]
[[Category:Money_Laundering]]
[[Category:Cryptocurrency Fraud]]
[[Category:Awaiting Trial]]

{{#seo:
|title=Christopher Alexander Delgado — Goliath Ventures Crypto Fraud Case | Prisonpedia
|title_mode=replace
|description=Christopher Alexander Delgado, former Goliath Ventures CEO, is charged with wire fraud and money laundering in an alleged $328M crypto Ponzi scheme. Charged, not convicted; presumed innocent.
|keywords=Christopher Alexander Delgado, Goliath Ventures, Goliath Ventures Ponzi scheme, Gen-Z Venture Firm, crypto fraud Florida, Delgado wire fraud, liquidity pool fraud, Middle District of Florida
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
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{{MetaDescription|Christopher Alexander Delgado, former Goliath Ventures CEO, is charged with wire fraud and money laundering in an alleged $328 million cryptocurrency Ponzi scheme. He is charged, not convicted, and presumed innocent.}}

Gökçe Güven

JasonHarris — Wed, 03 Jun 2026 14:24:35 GMT

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			{{DEFAULTSORT:Güven, Gökçe}}
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	[[Category:Wire_Fraud]]		[[Category:Wire_Fraud]]

Gökçe Güven

Orderly — Wed, 03 Jun 2026 14:24:29 GMT

Create article: Gökçe Güven (federal case)

New page

{{Infobox Person
|name = Gökçe Güven
|image =
|birth_place = Turkey
|citizenship = Turkey
|charges = Securities fraud, Wire fraud, Visa fraud, Aggravated identity theft
|conviction_date = May 2026 (guilty plea)
|conviction = Securities fraud (1 count, plea)
|sentence = Pending (sentencing scheduled September 17, 2026)
|forfeiture = Approximately $7 million
|judge = Hon. Lewis A. Kaplan
|case_number = S.D.N.Y. (assigned to Judge Kaplan)
|status = Awaiting sentencing
|occupation = Technology entrepreneur
|known_for = Founder and CEO of Kalder Inc.; Forbes 30 Under 30 honoree
}}

'''Gökçe Güven''' is a Turkish technology entrepreneur and the founder and former chief executive officer of Kalder Inc., a venture-backed loyalty and rewards startup based in New York. She appeared on the Forbes 30 Under 30 list before federal prosecutors charged her with fraud.<ref name="americanbanker">Burns, Hilary. "NY fintech founder Gökçe Güven charged in $7M fraud case." American Banker, February 2026.</ref><ref name="techcrunch">"Fintech CEO and Forbes 30 Under 30 alum has been charged for alleged fraud." TechCrunch, February 2, 2026.</ref>

In February 2026 the U.S. Attorney's Office for the Southern District of New York announced charges against Güven for securities fraud, wire fraud, visa fraud, and aggravated identity theft. Prosecutors said she raised roughly $7 million from more than a dozen venture capital investors by misrepresenting Kalder's revenue and its roster of paying brand partners. According to the charges, Güven kept two sets of financial books. One set, prepared by Kalder's outside accountants, held the company's real numbers. A second set, sent to investors, carried false and inflated figures. The charges also alleged that after her student visa expired, Güven had Kalder sponsor her for an O-1A "extraordinary ability" visa, supporting the application with letters she digitally signed in the names of business executives who had not authorized them.<ref name="dojcharge">U.S. Department of Justice, U.S. Attorney's Office, Southern District of New York. "Startup CEO Charged With Fraud." February 2026.</ref><ref name="dailycal">"UC Berkeley alumna, Forbes 30 Under 30 honoree arrested on multiple charges of fraud." The Daily Californian, 2026.</ref>

Güven pleaded guilty to one count of securities fraud in late May 2026. As part of the plea she agreed to forfeit nearly $7 million. U.S. District Judge Lewis A. Kaplan scheduled sentencing for September 17, 2026. No sentence had been imposed as of June 2026.<ref name="dojplea">U.S. Department of Justice, U.S. Attorney's Office, Southern District of New York. "Kalder CEO Pleads Guilty To Securities Fraud." May 2026.</ref><ref name="gazette">"U.S.-based 26-year-old Kalder CEO Gökçe Güven convicted of $7 million capital fraud, O-1A visa misstatement." Gazette NGR, 2026.</ref>

== Background ==

Güven is a citizen of Turkey. She came to the United States to study and attended the University of California, Berkeley. While at Berkeley she worked as a developer and engineering lead with the student group Blockchain at Berkeley between 2018 and 2020.<ref name="dailycal"/> Reporting at the time of the charges described her as 26 years old.<ref name="gazette"/>

Güven founded Kalder and built it into a venture-backed company in New York. Forbes named her to its 30 Under 30 list. She entered the United States on a student visa, which later expired.<ref name="americanbanker"/><ref name="techcrunch"/><ref name="dailycal"/>

== Kalder ==

Kalder Inc. was a loyalty and rewards technology company. Its platform let brands offer cashback and rewards to customers through card-linked offers. Customers could earn rewards on the credit cards they already carried, and non-financial companies such as retailers and sports teams could run reward programs without building the technology themselves.<ref name="americanbanker"/><ref name="dailycal"/>

Güven raised a seed round of approximately $7 million in April 2024. The money came from more than a dozen investors. Reporting identified Godiva and the International Air Transport Association among the names Kalder associated with its business.<ref name="techcrunch"/><ref name="dailycal"/>

Prosecutors later said the company's actual performance was far smaller than what investors were told. Kalder generated about $60,000 in revenue by April 2025, according to the government.<ref name="americanbanker"/> Güven's defense argued that nearly $6 million of the roughly $6.8 million in investor funds remained in company bank accounts when the government first brought its allegations.<ref name="dailycal"/>

== The Fraud ==

The case centered on what Güven told investors during the 2024 seed round. Prosecutors said she sent prospective investors a pitch deck that misstated the company's traction. The deck claimed 26 brands were "using Kalder" and 53 brands were in a "live freemium" tier. Prosecutors said some of those brands had only entered pilot programs, and others had no agreement with Kalder at all.<ref name="dojplea">U.S. Department of Justice, U.S. Attorney's Office, Southern District of New York. "Kalder CEO Pleads Guilty To Securities Fraud." May 2026.</ref><ref name="dailycal"/>

The government also said Güven inflated the company's revenue. She claimed Kalder produced about $1.2 million in annual recurring revenue by March 2024. The real figure was a fraction of that.<ref name="americanbanker"/><ref name="techcrunch"/>

Central to the charges was the allegation that Güven kept two sets of books. Kalder's outside accounting firm prepared an internal set with the company's accurate monthly and annual financials. A separate set, with false and inflated numbers, went to investors and prospective investors. The two sets did not match.<ref name="dojplea"/>

The visa conduct ran on a parallel track. After her student visa expired, Güven caused Kalder to sponsor her for an O-1A visa, a category reserved for people with extraordinary ability in fields such as business, science, or athletics. Prosecutors said her visa application repeated the same kinds of misrepresentations she had given investors. To support it, she submitted reference and support letters that appeared to carry the signatures of business executives. Prosecutors said Güven had digitally signed those letters herself, without the executives' knowledge or consent. She obtained the O-1A visa in the fall of 2025.<ref name="dojcharge"/><ref name="dailycal"/>

== Charges and Guilty Plea ==

Federal prosecutors in the Southern District of New York announced the charges in February 2026. The case charged Güven with four offenses: securities fraud, wire fraud, visa fraud, and aggravated identity theft.<ref name="dojcharge"/><ref name="techcrunch"/>

The four counts carried different statutory penalties. Securities fraud and wire fraud each carry a maximum of 20 years in prison. Visa fraud carries a maximum of 10 years. Aggravated identity theft carries a mandatory two-year term that must run consecutive to any other sentence.<ref name="dojcharge"/> The case was assigned to U.S. District Judge Lewis A. Kaplan.<ref name="dojcharge"/> The arrest and charges were announced on February 2, 2026.<ref name="techcrunch"/>

Güven pleaded guilty to one count of securities fraud in late May 2026. The securities fraud count to which she pleaded carries a statutory maximum of five years in prison. As part of the plea she agreed to forfeit nearly $7 million in proceeds. U.S. Attorney Jay Clayton announced the plea and said Güven had "defrauded more than a dozen venture capital investors through material misrepresentations about Kalder's revenue and brand partners, then lied to obtain an immigration benefit."<ref name="dojplea"/><ref name="gazette"/>

Judge Kaplan scheduled sentencing for September 17, 2026. As of June 2026, no sentence had been imposed, and Güven remained subject to the court's pending sentencing.<ref name="gazette"/><ref name="dojplea"/>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Gökçe Güven?|answer=Gökçe Güven is a Turkish technology entrepreneur and the founder and former chief executive officer of Kalder Inc., a New York loyalty and rewards startup. She was a Forbes 30 Under 30 honoree. In May 2026 she pleaded guilty to one count of securities fraud in connection with a scheme that raised about $7 million from investors.}}
{{FAQ|question=What did Gökçe Güven do?|answer=Federal prosecutors said Güven raised roughly $7 million from more than a dozen investors by misrepresenting Kalder's revenue and brand partnerships. She kept two sets of books, sending false and inflated figures to investors. She also used fabricated documents, including letters digitally signed in executives' names without consent, to obtain an O-1A visa.}}
{{FAQ|question=What was Gökçe Güven charged with?|answer=The Southern District of New York charged her with securities fraud, wire fraud, visa fraud, and aggravated identity theft in February 2026.}}
{{FAQ|question=Did Gökçe Güven plead guilty?|answer=Yes. She pleaded guilty to one count of securities fraud in late May 2026 and agreed to forfeit nearly $7 million.}}
{{FAQ|question=How long is Gökçe Güven's sentence?|answer=No sentence has been imposed. Sentencing before U.S. District Judge Lewis A. Kaplan is scheduled for September 17, 2026. The securities fraud count to which she pleaded carries a statutory maximum of five years in prison.}}
{{FAQ|question=What was Kalder?|answer=Kalder Inc. was a loyalty and rewards technology company. Its platform let brands offer cashback and rewards through card-linked offers, so customers could earn rewards on cards they already used.}}
{{FAQ|question=How much money was involved?|answer=Güven raised approximately $7 million from more than a dozen investors during a 2024 seed round. Prosecutors said Kalder's actual revenue was about $60,000 by April 2025, far below the figures given to investors. She agreed to forfeit nearly $7 million as part of her plea.}}
{{FAQ|question=What was the visa fraud allegation?|answer=After her student visa expired, Güven had Kalder sponsor her for an O-1A "extraordinary ability" visa. Prosecutors said her application repeated false claims and included support letters she digitally signed in the names of executives who had not authorized them. She obtained the visa in fall 2025.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Wire_Fraud]]
[[Category:Securities_Fraud]]
[[Category:White_Collar_Crime]]
[[Category:Awaiting_Sentencing]]

{{#seo:
|title=Gökçe Güven - Kalder CEO, Securities Fraud Case | Prisonpedia
|title_mode=replace
|description=Gökçe Güven, founder and CEO of Kalder Inc., pleaded guilty to securities fraud in May 2026 after raising ~$7M from investors. Full case file, charges, visa fraud, and sentencing.
|keywords=Gökçe Güven, Gokce Guven, Kalder, Kalder Inc, Gökçe Güven fraud, Kalder securities fraud, Forbes 30 Under 30 fraud, Gökçe Güven guilty plea, O-1A visa fraud
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
}}

{{MetaDescription|Gökçe Güven, founder and CEO of Kalder Inc., pleaded guilty to securities fraud in May 2026 after raising about $7 million from investors. Case file, charges, visa fraud, and sentencing on Prisonpedia.}}

Paul Jorgensen

JasonHarris — Wed, 03 Jun 2026 14:20:05 GMT

copyedit: set DEFAULTSORT sort key

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			{{DEFAULTSORT:Jorgensen, Paul}}
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	[[Category:Securities_Fraud]]		[[Category:Securities_Fraud]]

Paul Jorgensen

Orderly — Wed, 03 Jun 2026 14:20:01 GMT

Create article: Paul Jorgensen (federal case)

New page

{{Infobox Person
|name = Paul W. Jorgensen
|residence = Charlotte, North Carolina
|charges = Securities fraud (2 counts)
|conviction_date = January 9, 2026 (guilty plea)
|sentence = 26 months federal prison, 2 years supervised release
|sentencing_date = May 21, 2026
|restitution = $2,532,775.52 forfeiture
|judge = Hon. Katherine Polk Failla
|case_number = S.D.N.Y.
|status = Sentenced
|occupation = Former technology executive
|known_for = Insider trading in Doximity stock and options
}}

'''Paul W. Jorgensen''' is a former American technology executive who served as Chief Revenue Officer of Doximity, Inc., a publicly traded physician-networking and healthcare-technology company. In January 2026 he pleaded guilty to two counts of securities fraud in the U.S. District Court for the Southern District of New York. The charges arose from a scheme in which he traded Doximity stock and options ahead of the company's quarterly earnings announcements using material nonpublic information.<ref name="doj-plea">U.S. Department of Justice, U.S. Attorney's Office, Southern District of New York. "Former Corporate Executive Pleads Guilty To Multimillion-Dollar Insider Trading Scheme." January 9, 2026.</ref>

Jorgensen's trades produced aggregate illegal profits and losses avoided of approximately $2.53 million. The conduct spanned two periods. In August 2022 he sold shares before a negative earnings call. In August 2023, days after his termination from Doximity, he traded again before another earnings announcement, this time using options to bet against the stock.<ref name="doj-plea"/><ref name="doj-sentence">U.S. Department of Justice, U.S. Attorney's Office, Southern District of New York. "Former Corporate Executive Sentenced To 26 Months In Prison For Insider Trading Scheme." May 28, 2026.</ref>

On May 21, 2026, U.S. District Judge Katherine Polk Failla sentenced Jorgensen to 26 months in prison, followed by two years of supervised release. The court ordered him to forfeit $2,532,775.52. A parallel civil action by the U.S. Securities and Exchange Commission, filed in March 2026 on a settled basis, included a permanent bar from serving as an officer or director of a public company.<ref name="doj-sentence"/><ref name="sec-release">U.S. Securities and Exchange Commission. "Paul W. Jorgensen." Litigation Release No. 26501. March 16, 2026.</ref>

== Background ==

Jorgensen worked as a senior executive at Doximity, Inc. He held the title of Chief Revenue Officer. Doximity operates an online networking platform for physicians and other medical professionals in the United States. The company's common stock trades on the New York Stock Exchange under the ticker symbol DOCS.<ref name="sec-release"/>

As Chief Revenue Officer, Jorgensen had access to confidential financial information about the company. That access included internal sales figures and advance knowledge of results before they were disclosed to the public on quarterly earnings calls.<ref name="doj-sentence"/>

Jorgensen was 53 years old at the time of his sentencing. He resided in Charlotte, North Carolina. Doximity terminated his employment in August 2023.<ref name="doj-sentence"/>

== Insider Trading Scheme ==

Federal prosecutors described two separate episodes of trading. Both occurred in advance of Doximity earnings announcements. Both relied on information Jorgensen learned through his role at the company.<ref name="doj-plea"/>

=== 2022 Trades ===

On July 28, 2022, Jorgensen attended a Doximity board meeting. The meeting took place before an upcoming earnings call. Company executives discussed negative results during the session.<ref name="doj-sentence"/>

After the meeting, Jorgensen sent a text message to a close family member. He wrote that he was "[n]ot selling [his] DOCS shares" because he had "non-public confidential info and it's just not right to sell."<ref name="doj-sentence"/>

Two days later, Jorgensen learned he had been reassigned to a sales role at the company. He then texted the same family member that he had "decided to sell [his] DOCS shares" because he needed to "protect us first and foremost."<ref name="doj-sentence"/>

The following day, Jorgensen sold 61,162 shares of Doximity. He held the shares in a personal brokerage account. After the earnings call, the company's share price fell by approximately seven percent. The sale allowed Jorgensen to avoid losses of more than $300,000.<ref name="doj-sentence"/>

=== 2023 Trades ===

In August 2023, Doximity terminated Jorgensen's employment. Days after his termination, and before the company's next earnings call, he traded again. He acted on material nonpublic information about the company's lower-than-expected sales, the underperformance of its sales team, and a planned reduction in force.<ref name="sec-release"/>

Ahead of the August 8, 2023 earnings announcement, Jorgensen sold 15,000 shares of Doximity stock. He also sold 1,300 call options, which earned him roughly $200,000. The stock sale itself produced about $114,000.<ref name="doj-plea"/><ref name="washtimes">"Doximity ex-executive sentenced to 26 months for $2.5M insider trading scheme." The Washington Times. May 28, 2026.</ref>

Jorgensen then purchased 4,700 put options. Put options gain value when a stock declines. After the earnings announcement, Doximity's share price dropped sharply. He closed out the put position and collected nearly $2 million.<ref name="washtimes"/>

The two rounds of trading produced aggregate profits and losses avoided of approximately $2,532,775.<ref name="doj-plea"/>

== Charges and Guilty Plea ==

On January 9, 2026, Jorgensen pleaded guilty in the U.S. District Court for the Southern District of New York. He admitted to two counts of securities fraud. Each count carried a maximum sentence of 20 years in prison.<ref name="doj-plea"/>

The case was prosecuted by the U.S. Attorney's Office for the Southern District of New York. Assistant U.S. Attorney Alexandra Rothman was in charge of the prosecution. The case was assigned to U.S. District Judge Katherine Polk Failla.<ref name="doj-sentence"/>

The Securities and Exchange Commission filed a parallel civil action on March 16, 2026. The complaint charged Jorgensen with violations of the antifraud provisions of the federal securities laws. It also alleged that he failed to file required reports disclosing his August 2022 stock sales. Jorgensen consented to a settlement. He agreed to a permanent injunction against further violations and a permanent bar from serving as an officer or director of a public company. Under the bifurcated settlement, the court will determine disgorgement, prejudgment interest, and any civil penalty on a later motion by the Commission.<ref name="sec-release"/>

== Sentencing ==

On May 21, 2026, Judge Failla sentenced Jorgensen to 26 months in prison. The sentence included two years of supervised release to follow his term of incarceration. The court ordered Jorgensen to forfeit $2,532,775.52, an amount matching his aggregate trading gains and losses avoided.<ref name="doj-sentence"/>

U.S. Attorney Jay Clayton announced the sentence. In a statement, Clayton said that insider trading "destroys faith in the fairness and integrity of our markets" and that "[e]xecutives who trade on their company's confidential information will be prosecuted."<ref name="washtimes"/>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Paul Jorgensen?|answer=Paul W. Jorgensen is a former technology executive who served as Chief Revenue Officer of Doximity, Inc., a publicly traded physician-networking and healthcare-technology company. He pleaded guilty in January 2026 to two counts of securities fraud for insider trading in Doximity stock and options.}}
{{FAQ|question=What did Paul Jorgensen do?|answer=Jorgensen traded Doximity securities ahead of two quarterly earnings announcements using material nonpublic information he obtained as a company executive. In August 2022 he sold 61,162 shares before a negative earnings call. In August 2023, days after his termination, he traded stock and options before another earnings announcement, including put options that profited when the stock fell. The trades produced about $2.53 million in profits and losses avoided.}}
{{FAQ|question=How long is Paul Jorgensen's sentence?|answer=U.S. District Judge Katherine Polk Failla sentenced Jorgensen on May 21, 2026, to 26 months in federal prison, followed by two years of supervised release.}}
{{FAQ|question=How much money was involved?|answer=Jorgensen's two rounds of trading produced aggregate profits and losses avoided of approximately $2,532,775. The court ordered him to forfeit $2,532,775.52.}}
{{FAQ|question=What company did Paul Jorgensen work for?|answer=Jorgensen was Chief Revenue Officer of Doximity, Inc., an online networking platform for physicians and other medical professionals. Doximity common stock trades on the New York Stock Exchange under the ticker symbol DOCS.}}
{{FAQ|question=When did Paul Jorgensen plead guilty?|answer=Jorgensen pleaded guilty to two counts of securities fraud on January 9, 2026, in the U.S. District Court for the Southern District of New York.}}
{{FAQ|question=Was there an SEC case against Paul Jorgensen?|answer=Yes. The U.S. Securities and Exchange Commission filed a settled civil action on March 16, 2026. Jorgensen agreed to a permanent injunction and a permanent bar from serving as an officer or director of a public company. The court will set disgorgement, interest, and any civil penalty on a later motion.}}
{{FAQ|question=How did Paul Jorgensen get caught?|answer=Jorgensen's trading patterns ahead of Doximity earnings announcements drew the attention of federal investigators. His own text messages to a family member, in which he acknowledged holding "non-public confidential info," were cited by prosecutors as evidence of his knowledge.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Securities_Fraud]]
[[Category:White_Collar_Crime]]
[[Category:Sentenced_Offenders]]

{{#seo:
|title=Paul Jorgensen — Former Doximity Executive, Insider Trading Case | Prisonpedia
|title_mode=replace
|description=Paul W. Jorgensen, former Doximity Chief Revenue Officer, pleaded guilty to insider trading and was sentenced to 26 months in prison. Full case file, trades, plea, and sentencing.
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{{MetaDescription|Paul W. Jorgensen, former Chief Revenue Officer of Doximity, pleaded guilty to securities fraud for insider trading ahead of company earnings and was sentenced to 26 months in federal prison.}}

Harish Chidambaran

ClaudeReid — Wed, 03 Jun 2026 14:19:56 GMT

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			{{DEFAULTSORT:Chidambaran, Harish}}
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	[[Category:Securities_Fraud]]		[[Category:Securities_Fraud]]

Harish Chidambaran

Orderly — Wed, 03 Jun 2026 14:19:52 GMT

Create article: Harish Chidambaran (federal case)

New page

{{Infobox Person
|name = Puthugramam "Harish" Chidambaran
|other_names = Harish Chidambaran
|birth_date = c. 1969 (age 57 at time of arrest)
|residence = Potomac, Maryland
|occupation = Technology executive; founder and former chief executive officer, iLearningEngines, Inc.
|charges = Continuing financial crimes enterprise (alleged); Conspiracy to commit securities fraud (alleged); Securities fraud (alleged); Conspiracy to commit wire fraud (alleged); Wire fraud (alleged)
|status = Charged; awaiting trial
|arrest_date = April 17, 2026
|case_number = E.D.N.Y. (Brooklyn)
|judge = Eastern District of New York
|jurisdiction = United States District Court for the Eastern District of New York
}}

'''Puthugramam "Harish" Chidambaran''' is an American technology executive and the founder and former chief executive officer of iLearningEngines, Inc., a Nasdaq-listed company that marketed artificial-intelligence business-automation software. On April 17, 2026, federal prosecutors in Brooklyn unsealed a ten-count indictment charging Chidambaran and the company's former chief financial officer, Sayyed Farhan Ali "Farhan" Naqvi, with running a continuing financial crimes enterprise and with multiple counts of securities fraud and wire fraud.<ref name="doj">U.S. Department of Justice, U.S. Attorney's Office, Eastern District of New York. "Former Chief Executive Officer and Chief Financial Officer of Nasdaq-Listed Company Charged With Operating a Continuing Financial Crimes Enterprise in Multi-Year Scheme to Defraud Investors and Lenders." April 17, 2026.</ref><ref name="findlaw">FindLaw. "iLying: Feds Charge NASDAQ-Traded AI Company Execs With 10 Counts of Fraud." April 2026.</ref>

The indictment alleges that, beginning around January 2019, Chidambaran and Naqvi inflated iLearningEngines' reported revenue by hundreds of millions of dollars through sham contracts with entities they and others controlled. Prosecutors allege that at least 90 percent of the company's roughly $421 million in reported 2023 revenue was fabricated, and that the defendants moved more than $144 million in a "round-trip" cycle to make fake customer payments look real.<ref name="doj" /><ref name="capitalai">CapitalAI Daily. "CEO of Nasdaq-Listed AI Firm Allegedly Masterminds $421,000,000 'Round-Trip' Scheme To Defraud Investors: DOJ." April 2026.</ref>

Chidambaran has been charged, not convicted. Under United States law he is presumed innocent unless and until proven guilty beyond a reasonable doubt. He was arrested at his home in Potomac, Maryland, and the case is pending in the United States District Court for the Eastern District of New York. The allegations described below are drawn from the indictment and from statements by prosecutors. They have not been tested at trial.<ref name="doj" /><ref name="hill">The Hill / Nexstar Media Wire. "iLearning CEO accused of running $420M AI business scam." April 2026.</ref>

== Background ==

Chidambaran founded iLearningEngines and led it as chief executive officer through its growth, its public listing, and its collapse. He was 57 years old at the time of his arrest in April 2026.<ref name="americanbazaar">American Bazaar. "Two Indian Americans charged with multimillion dollar AI platform scam." April 22, 2026.</ref><ref name="inc">Inc. "Executives of Troubled AI Automation Company Arrested in Massive Fraud Scheme." April 2026.</ref>

The company was based in Bethesda, Maryland. It described itself as a provider of AI-driven "learning automation" and information-intelligence tools sold to large enterprise customers. Public materials tied to the company claimed it served more than 1,000 enterprise end customers and roughly 4.4 million licensed users.<ref name="findlaw" /><ref name="hindenburg">Hindenburg Research. "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners And Artificial Revenue." August 29, 2024.</ref>

Naqvi, the co-defendant, served as the company's chief financial officer. He was 44 at the time of his arrest in San Jose, California, on the same day as Chidambaran.<ref name="americanbazaar" /><ref name="insurancejournal">Insurance Journal. "Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud." April 20, 2026.</ref>

== iLearningEngines ==

iLearningEngines became a public company in April 2024 through a merger with a special purpose acquisition company, Arrowroot Acquisition Corp. The combination closed on April 16, 2024, and the stock began trading on the Nasdaq the next day. The deal carried an implied enterprise value of roughly $1.4 billion.<ref name="elevenflo">elevenflo. "iLearningEngines: SPAC Fallout and Chapter 7 Conversion." 2025.</ref><ref name="sahm">Sahm Capital. "iLearningEngines Shares Fall On Short Report, Company Responds To 'Artificial Intelligence SPAC With Artificial Partners' Allegations." August 29, 2024.</ref>

The public listing did not last long. On August 29, 2024, the short-seller Hindenburg Research published a report titled "An Artificial Intelligence SPAC With Artificial Partners And Artificial Revenue." The report claimed that the bulk of iLearningEngines' revenue and expenses ran through an undisclosed related party it called a "Technology Partner," and that much of the reported revenue did not exist. It noted that the company's sole Indian subsidiary reported about $853,471 in revenue for its latest fiscal year, against a claimed Indian run rate of $216 million.<ref name="hindenburg" /><ref name="fortune">Fortune. "Short seller Hindenburg takes aim at AI hype, sinks two companies' stocks." September 4, 2024.</ref>

The stock dropped sharply after the report. iLearningEngines disputed the allegations at the time. The company filed for Chapter 11 bankruptcy protection in Delaware on December 20, 2024, then converted to a Chapter 7 liquidation on March 6, 2025, after it failed to secure financing.<ref name="elevenflo" /><ref name="insurancejournal" /><ref name="sahm" />

== The Allegations ==

The indictment covers conduct from about January 2019 through April 2025. Prosecutors allege that Chidambaran and Naqvi, working with unnamed co-conspirators, ran iLearningEngines through what the U.S. Attorney's office called "systemic fraud," inflating revenue at times by hundreds of millions of dollars a year.<ref name="doj" /><ref name="hoodline">Hoodline. "Brooklyn Feds Target iLearning Execs After Fraud Allegations." April 2026.</ref>

The core mechanic alleged in the indictment is "round-tripping." According to prosecutors, the company took in money from lenders and investors, sent that money to purported customers, and then received the same money back, booking the return as customer revenue. The indictment alleges that the aggregate value of these round-trip transactions topped $144 million. An associate of Chidambaran is alleged to have set up and opened bank accounts in the names of several of the purported customers.<ref name="doj" /><ref name="capitalai" />

Prosecutors allege that the sham contracts ran into the tens of millions of dollars in some years and that at least 90 percent of the roughly $421 million in revenue iLearningEngines reported for 2023 was fabricated. The company's filings, the indictment alleges, also overstated its customer base and its number of licensed users.<ref name="findlaw" /><ref name="hill" />

The indictment also describes large personal benefits. In connection with the company going public, Chidambaran is alleged to have received more than $500 million worth of iLearningEngines common stock, and later approximately $12.5 million in restricted stock units. Naqvi is alleged to have received common stock worth about $11.2 million, and the company is alleged to have paid nearly $4.5 million in cash to cover his tax liabilities.<ref name="doj" /><ref name="insurancejournal" />

These are allegations. The government bears the burden of proving each charge beyond a reasonable doubt, and the defendants are presumed innocent.<ref name="doj" />

== Charges ==

The grand jury returned a ten-count indictment, which was unsealed in federal court in Brooklyn on April 17, 2026. The charges against Chidambaran and Naqvi include:<ref name="doj" /><ref name="findlaw" />

* Operating a [[continuing financial crimes enterprise]]
* Conspiracy to commit [[securities fraud]]
* Securities fraud
* Conspiracy to commit [[wire fraud]]
* Wire fraud

The continuing financial crimes enterprise count carries the heaviest exposure. If a defendant is convicted of that charge, it carries a mandatory minimum term of 10 years in prison and a maximum term of life.<ref name="doj" /><ref name="capitalai" />

Chidambaran was arrested on the morning of April 17, 2026, at his home in Potomac, Maryland. Naqvi was arrested the same day in San Jose, California. The case is being prosecuted by the U.S. Attorney's Office for the Eastern District of New York. Joseph Nocella Jr., the United States Attorney for that district, said in announcing the charges that the defendants misrepresented the company's financial health to exploit growing investor interest in artificial intelligence.<ref name="doj" /><ref name="americanbazaar" /><ref name="hill" />

The criminal case followed civil scrutiny of the company. Investors filed class-action complaints accusing iLearningEngines and certain officers of securities fraud, and the company had disclosed that the Securities and Exchange Commission opened an inquiry into its accounting. Those proceedings name Chidambaran and Naqvi among the officers who signed off on the public statements at issue.<ref name="classlaw">Class Law Group. "iLearningEngines (AILE) Lawsuit Investigation." 2024.</ref><ref name="findlaw" />

As of June 2026, Chidambaran is awaiting trial. No conviction has been entered against him.<ref name="doj" />

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Harish Chidambaran?|answer=Puthugramam "Harish" Chidambaran is the founder and former chief executive officer of iLearningEngines, Inc., a Nasdaq-listed company that sold artificial-intelligence business-automation software. In April 2026 he was charged in a federal indictment in Brooklyn with securities fraud and related offenses. He has been charged, not convicted, and is presumed innocent.}}
{{FAQ|question=What is Harish Chidambaran charged with?|answer=A ten-count federal indictment charges Chidambaran with operating a continuing financial crimes enterprise, conspiracy to commit securities fraud, securities fraud, conspiracy to commit wire fraud, and wire fraud. Prosecutors allege he and the company's former chief financial officer inflated iLearningEngines' revenue through sham contracts. The charges are allegations that have not been proven at trial.}}
{{FAQ|question=Has Harish Chidambaran been convicted?|answer=No. Chidambaran has been charged but not convicted. He is presumed innocent unless and until the government proves the charges beyond a reasonable doubt. As of June 2026 the case is pending and he is awaiting trial.}}
{{FAQ|question=What did prosecutors say iLearningEngines did?|answer=Prosecutors allege that at least 90 percent of the roughly $421 million in revenue the company reported for 2023 was fabricated through sham contracts with purported customers. The indictment alleges the defendants "round-tripped" more than $144 million, sending money out to fake customers and receiving it back to make the payments look like real revenue. These are allegations.}}
{{FAQ|question=What is round-tripping?|answer=Round-tripping is a fraudulent accounting practice in which a company moves money out to a counterparty and then receives the same money back, recording the return as legitimate revenue. Prosecutors allege iLearningEngines used this method to manufacture the appearance of customer sales.}}
{{FAQ|question=When was Harish Chidambaran arrested?|answer=Chidambaran was arrested on the morning of April 17, 2026, at his home in Potomac, Maryland. The company's former chief financial officer, Sayyed Farhan Ali Naqvi, was arrested the same day in San Jose, California. A ten-count indictment was unsealed in federal court in Brooklyn that day.}}
{{FAQ|question=What happened to iLearningEngines?|answer=iLearningEngines went public in April 2024 through a merger with Arrowroot Acquisition Corp. In August 2024, short-seller Hindenburg Research published a report questioning its revenue. The stock fell sharply. The company filed for Chapter 11 bankruptcy in December 2024 and converted to a Chapter 7 liquidation in March 2025.}}
{{FAQ|question=What penalty does Harish Chidambaran face if convicted?|answer=The most serious charge, operating a continuing financial crimes enterprise, carries a mandatory minimum of 10 years in prison and a maximum of life if a defendant is convicted of it. No conviction has been entered, and the presumption of innocence applies.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Securities_Fraud]]
[[Category:White_Collar_Crime]]
[[Category:Awaiting Trial]]

{{#seo:
|title=Harish Chidambaran — iLearningEngines Founder Charged in Federal Securities Fraud Case | Prisonpedia
|title_mode=replace
|description=Harish Chidambaran, founder and former CEO of iLearningEngines, was charged in April 2026 with federal securities and wire fraud. He is charged, not convicted, and awaiting trial.
|keywords=Harish Chidambaran, Puthugramam Chidambaran, iLearningEngines, iLearningEngines fraud, AILE securities fraud, Farhan Naqvi, AI company fraud, round-tripping revenue, Arrowroot Acquisition, Hindenburg iLearningEngines
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
}}

{{MetaDescription|Harish Chidambaran, founder and former CEO of iLearningEngines, was charged in April 2026 with federal securities and wire fraud over allegedly fabricated revenue. He is charged, not convicted, and awaiting trial.}}

Ari Lauer

TerryMoses — Wed, 03 Jun 2026 14:19:48 GMT

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			{{DEFAULTSORT:Lauer, Ari}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Wire_Fraud]]		[[Category:Wire_Fraud]]

Ari Lauer

Orderly — Wed, 03 Jun 2026 14:19:43 GMT

Create article: Ari Lauer (federal case)

New page

{{Infobox Person
|name = Ari J. Lauer
|birth_place = California
|residence = Lafayette, California
|charges = Conspiracy to commit wire and bank fraud (1 count), Bank fraud (12 counts), Wire fraud affecting a financial institution (10 counts)
|conviction_date = October 14, 2025 (guilty plea)
|sentence = 11 years 5 months (137 months) federal prison
|sentencing_date = March 9, 2026
|judge = Hon. Dale A. Drozd
|case_number = 2:23-cr-00220 (E.D. Cal.)
|facility = Federal Bureau of Prisons (designation pending)
|status = Incarcerated
|occupation = Attorney (inactive)
|known_for = Outside counsel to DC Solar
}}

'''Ari J. Lauer''' is an American former attorney from Lafayette, California. He served as outside counsel to DC Solar, a Benicia, California company that operated what federal prosecutors called the largest criminal fraud scheme in the history of the United States District Court for the Eastern District of California.<ref name="irs2026">Internal Revenue Service, Criminal Investigation. "DC Solar attorney sentenced to over 11 years in prison for his involvement in the DC Solar billion-dollar Ponzi scheme." March 10, 2026. https://www.irs.gov/compliance/criminal-investigation/dc-solar-attorney-sentenced-to-over-11-years-in-prison-for-his-involvement-in-the-dc-solar-billion-dollar-ponzi-scheme</ref> Lauer advised the company from approximately 2009 to January 2019.<ref name="irs2026"/>

DC Solar sold mobile solar generators to investors and claimed to lease them to third parties. The generators were marketed as a vehicle for federal solar tax credits and lease income. Most of the claimed rental revenue did not exist. New investor money was cycled back to earlier investors and disguised as lease payments. Investors put in roughly $759.4 million between March 2011 and December 2018. Related transactions exceeded $912 million.<ref name="irs2026"/><ref name="abajournal2026">American Bar Association. "Solar company's outside counsel sentenced to over 11 years in prison for role in $1B Ponzi scheme." ABA Journal, March 12, 2026. https://www.abajournal.com/news/article/solar-companys-outside-counsel-gets-over-11-years-for-role-in-1-billion-ponzi-scheme</ref>

A federal grand jury indicted Lauer on October 5, 2023.<ref name="cc2023">Contra Costa News. "DC Solar Attorney Indicted in the DC Solar Billion Dollar Ponzi Scheme." October 10, 2023. https://contracosta.news/2023/10/10/dc-solar-attorney-indicted-in-the-dc-solar-billion-dollar-ponzi-scheme/</ref> He pleaded guilty on October 14, 2025, one week before his trial was set to begin, to one count of conspiracy to commit wire and bank fraud, 12 counts of bank fraud, and 10 counts of wire fraud affecting a financial institution.<ref name="irs2026"/> On March 9, 2026, U.S. District Judge Dale A. Drozd sentenced him to 11 years and 5 months in federal prison.<ref name="irs2026"/><ref name="cbs2026">CBS San Francisco. "California attorney convicted in DC Solar $1 billion Ponzi scheme gets 11 years in prison." March 10, 2026. https://www.cbsnews.com/sanfrancisco/news/dc-solar-ponzi-scheme-california-attorney-ari-lauer-11-years-prison/</ref>

== Background ==

Lauer was a licensed California attorney.<ref name="cc2023"/> He lived in Lafayette, in Contra Costa County. He was 59 at the time of his 2023 indictment and 61 when he was sentenced in 2026.<ref name="cc2023"/><ref name="abajournal2026"/>

His legal practice included corporate and business advisory work. From about 2009 he took on DC Solar as a client and served as the company's outside counsel.<ref name="irs2026"/> He held that role for roughly a decade, until January 2019. During that period he provided what the government described as legal and business advice concerning the company's operations.<ref name="irs2026"/>

The U.S. Attorney's office said his standing as a lawyer mattered to the scheme. His involvement "gave the scheme legitimacy and diminished any suspicion the investors might have had."<ref name="irs2026"/> U.S. Attorney Eric Grant said, "Without the participation of Lauer, the DC Solar fraud scheme would never have been operational."<ref name="abajournal2026"/>

== DC Solar ==

DC Solar Solutions Inc. was based in Benicia, California. Jeff Carpoff, a former auto mechanic, founded the company in Concord in 2008.<ref name="cbs2026"/> He ran it with his wife, Paulette Carpoff.<ref name="cbs2026"/>

The company built mobile solar generators. These were trailer-mounted units that paired solar panels with batteries. DC Solar sold them to investors. The investors then leased the units back to DC Solar, which said it would sublease them to third parties such as cell carriers and sports venues. The product qualified for federal solar tax credits. That credit was the core selling point.<ref name="abajournal2026"/>

The business attracted large institutional money. Among the investors was Warren Buffett's Berkshire Hathaway, which put roughly $340 million into the generators.<ref name="ibt2019">International Business Times. "Warren Buffett's Berkshire Hathaway Funded Ponzi Scam Without Knowing It." 2019. https://www.ibtimes.com/warren-buffetts-berkshire-hathaway-funded-ponzi-scam-frauds-lavish-lifestyle-without-2798237</ref> Federal agents raided DC Solar in December 2018. The company entered bankruptcy soon after.<ref name="cbs2026"/>

== The Scheme ==

DC Solar claimed to have built about 17,000 generators with a stated value near $2.5 billion. The real number was far lower. Investigators found that thousands of the units never existed.<ref name="abajournal2026"/> The company sold the same physical generators to multiple investors and pointed to inventory that was not there.<ref name="abajournal2026"/>

Investors never took possession of their units. DC Solar held them and said it was collecting sublease income from outside customers. That income was largely fictional. Between March 2011 and December 2018, about 94 to 95 percent of the lease revenue on the company's books was intercompany transfers dressed up as new investor money.<ref name="irs2026"/>

This is the mechanic of a [[Ponzi scheme]]. Money from new investors paid the returns promised to earlier investors. There was no underlying business generating those returns at the scale claimed. The Carpoffs spent investor funds on personal luxuries, including real estate, a private jet, and jewelry.<ref name="cbs2026"/>

Jeff Carpoff pleaded guilty in 2020. In November 2021 he was sentenced to 30 years in prison and ordered to pay $790.6 million in restitution.<ref name="abajournal2026"/><ref name="cbs2026"/> Paulette Carpoff was sentenced to 11 years and 3 months.<ref name="cbs2026"/> A former chief financial officer and other associates were also convicted.<ref name="abajournal2026"/>

== Lauer's Role and Charges ==

Prosecutors said Lauer helped paper over the gap between what DC Solar promised investors and what the business actually produced. In June 2012, Lauer, Jeff Carpoff, and others met to discuss the company's failure to generate enough third-party lease revenue to meet its obligations to investors. The conspirators agreed to conceal that shortfall from current and prospective investors.<ref name="cc2023"/>

To explain large movements of money between company accounts, the group created a "re-rent" arrangement. In 2014 they produced a re-rent agreement and backdated it to 2011. The transfers it purported to document were in fact new investor money being routed to earlier investors.<ref name="cc2023"/> Lauer also took part in preparing sublease agreements that carried concealed addendums. Those addendums changed the terms of the contracts in ways that were hidden from investors.<ref name="cc2023"/>

The October 5, 2023 indictment charged Lauer with 23 counts: conspiracy to commit wire and bank fraud, bank fraud, and wire fraud affecting a financial institution.<ref name="cc2023"/> He pleaded guilty on October 14, 2025, with no written plea agreement. He admitted one count of conspiracy to commit wire and bank fraud, 12 counts of bank fraud, and 10 counts of wire fraud affecting a financial institution.<ref name="irs2026"/>

The case was investigated by IRS Criminal Investigation, the Federal Bureau of Investigation, and the Federal Deposit Insurance Corporation Office of Inspector General.<ref name="irs2026"/><ref name="fdic2026">FDIC Office of Inspector General. "DC Solar Attorney Sentenced to over 11 Years in Prison for His Involvement in the DC Solar Billion Dollar Ponzi Scheme." March 2026. https://www.fdicoig.gov/news/investigations-press-releases/dc-solar-attorney-sentenced-over-11-years-prison-his-involvement</ref> Assistant U.S. Attorneys Audrey B. Hemesath and Nicholas M. Fogg prosecuted the case.<ref name="irs2026"/>

== Sentencing ==

U.S. District Judge Dale A. Drozd sentenced Lauer on March 9, 2026. The term was 11 years and 5 months, or 137 months, in the custody of the Federal Bureau of Prisons.<ref name="irs2026"/><ref name="cbs2026"/>

The case stands as the largest criminal fraud prosecution in the history of the Eastern District of California.<ref name="cc2023"/> Lauer was the last major figure charged in it.

His conviction ended his legal career. On December 19, 2025, the State Bar of California placed him on involuntary inactive status, which barred him from practicing law in the state.<ref name="cbs2026"/>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Ari Lauer?|answer=Ari J. Lauer is a former California attorney from Lafayette who served as outside counsel to DC Solar from approximately 2009 to January 2019. DC Solar ran a roughly $1 billion Ponzi scheme built on mobile solar generators. Lauer was convicted of conspiracy, bank fraud, and wire fraud for his role in concealing the fraud from investors.}}
{{FAQ|question=What did Ari Lauer do?|answer=Lauer helped DC Solar conceal that it was not generating real third-party lease revenue. He took part in a 2012 meeting where conspirators agreed to hide the revenue shortfall, helped create a backdated "re-rent" arrangement to explain transfers of investor money, and prepared sublease agreements with concealed addendums. He pleaded guilty to conspiracy to commit wire and bank fraud, 12 counts of bank fraud, and 10 counts of wire fraud.}}
{{FAQ|question=How long is Ari Lauer's sentence?|answer=U.S. District Judge Dale A. Drozd sentenced Lauer on March 9, 2026, to 11 years and 5 months, which is 137 months, in federal prison.}}
{{FAQ|question=What was the DC Solar scheme?|answer=DC Solar sold mobile solar generators to investors for federal solar tax credits and lease income. The company claimed about 17,000 generators worth near $2.5 billion, but thousands never existed. About 94 to 95 percent of the lease revenue on its books was new investor money disguised as rental income. Investors put in roughly $759.4 million, and related transactions exceeded $912 million.}}
{{FAQ|question=How much money was involved in the DC Solar fraud?|answer=Investors invested approximately $759.4 million between March 2011 and December 2018. Related transactions exceeded $912 million. Berkshire Hathaway alone invested about $340 million. Founder Jeff Carpoff was ordered to pay $790.6 million in restitution.}}
{{FAQ|question=Did Warren Buffett invest in DC Solar?|answer=Berkshire Hathaway, the company led by Warren Buffett, invested roughly $340 million in DC Solar generators. The investment was made for the federal solar tax credits and lease income the company promised. Berkshire and other investors faced losses after the scheme collapsed.}}
{{FAQ|question=When does Ari Lauer get out of prison?|answer=Lauer was sentenced on March 9, 2026, to 137 months. A release date depends on his Bureau of Prisons designation and any sentence credits, which were not public at the time of sentencing.}}
{{FAQ|question=What happened to the founders of DC Solar?|answer=Jeff Carpoff pleaded guilty in 2020 and was sentenced in November 2021 to 30 years in prison with $790.6 million in restitution. His wife, Paulette Carpoff, was sentenced to 11 years and 3 months. A former chief financial officer and other associates were also convicted.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Wire_Fraud]]
[[Category:Ponzi_Schemes]]
[[Category:White_Collar_Crime]]
[[Category:Currently Incarcerated]]

{{#seo:
|title=Ari Lauer - DC Solar Attorney, Billion-Dollar Ponzi Scheme Case | Prisonpedia
|title_mode=replace
|description=Ari J. Lauer was outside counsel to DC Solar, the largest fraud in Eastern District of California history. Sentenced to 11 years 5 months in March 2026. Full case file.
|keywords=Ari Lauer, Ari J. Lauer, DC Solar attorney, DC Solar Ponzi scheme, Jeff Carpoff, Paulette Carpoff, solar tax credit fraud, Eastern District California fraud, Dale Drozd
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
}}

{{MetaDescription|Ari J. Lauer, outside counsel to DC Solar, was sentenced to 11 years 5 months for his role in the billion-dollar DC Solar Ponzi scheme. Case file, charges, and sentencing on Prisonpedia.}}

Ramil Palafox

ClaudeReid — Wed, 03 Jun 2026 14:19:36 GMT

copyedit: set DEFAULTSORT sort key

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			{{DEFAULTSORT:Palafox, Ramil}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Wire_Fraud]]		[[Category:Wire_Fraud]]

Ramil Palafox

Orderly — Wed, 03 Jun 2026 14:19:30 GMT

Create article: Ramil Palafox (federal case)

New page

{{Infobox Person
|name = Ramil Ventura Palafox
|birth_date = c. 1965
|charges = Wire fraud, Money laundering
|conviction_date = September 16, 2025 (guilty plea)
|sentence = 20 years federal prison
|sentencing_date = February 2026
|restitution = $62,692,007
|judge = Hon. Leonie M. Brinkema
|case_number = 1:25-cr (E.D. Va.)
|facility = Federal Bureau of Prisons
|status = Incarcerated
|occupation = Former chief executive, Praetorian Group International
|known_for = PGI Global cryptocurrency Ponzi scheme
}}

'''Ramil Ventura Palafox''' (born c. 1965) is a dual United States and Philippines citizen who ran PGI Global, a cryptocurrency and foreign-exchange investment operation that federal prosecutors described as a Ponzi scheme. The company also traded under the name Praetorian Group International. Between December 2019 and October 2021, Palafox took in more than $201 million from over 90,000 investors around the world. He told them their money was being traded in bitcoin and currency markets at daily returns of 0.5 to 3 percent. Most of that trading did not happen.<ref name="irs2025">Internal Revenue Service, Criminal Investigation. "Praetorian Group International CEO pleads guilty to $200M bitcoin Ponzi scheme." September 16, 2025.</ref><ref name="sec2025">U.S. Securities and Exchange Commission. "SEC Charges PGI Global Founder with $198 Million Crypto Asset and Foreign Exchange Fraud Scheme." Press release 2025-69, April 23, 2025.</ref>

On September 16, 2025, Palafox pleaded guilty to wire fraud and money laundering in the U.S. District Court for the Eastern District of Virginia.<ref name="irs2025"/> In February 2026, U.S. District Judge Leonie M. Brinkema sentenced him to 20 years in federal prison.<ref name="coindesk2026">CoinDesk. "PGI Global CEO Gets 20 Years Sentence Over $200 Million Bitcoin Ponzi Scheme." February 13, 2026.</ref><ref name="irs2025"/> The court entered a restitution order of $62,692,007, the figure prosecutors used to measure investor losses.<ref name="irs2025"/> The Securities and Exchange Commission brought a parallel civil case in the same district in April 2025, charging Palafox with a $198 million fraud.<ref name="sec2025"/>

== Background ==

Palafox held citizenship in both the United States and the Philippines.<ref name="irs2025"/> He lived for a period in Las Vegas, Nevada.<ref name="wusa2026">WUSA9. "CEO sentenced in Virginia to 20 years for $200M international bitcoin Ponzi scheme." February 2026.</ref> He served as the chief executive officer, chairman, and lead promoter of Praetorian Group International.<ref name="irs2025"/>

Public records and court filings give limited detail about his life before PGI Global. The case against him centers on roughly two years of activity, from late 2019 through the fall of 2021, when the operation collected and spent investor money.<ref name="irs2025"/>

== Praetorian Group International ==

Praetorian Group International, marketed as PGI Global, presented itself as a crypto-asset and foreign-exchange trading company.<ref name="sec2025"/> The pitch was simple. Investors handed over bitcoin or cash. Palafox said an automated, AI-driven platform would trade those funds in currency and cryptocurrency markets. He advertised a 200 percent return on investment and promised daily payouts of 0.5 to 3 percent.<ref name="sec2025"/><ref name="earnforex">EarnForex. "Ramil Palafox and PGI Global: Forex MLM Scheme." 2025.</ref>

The company ran on a multi-level marketing structure. Members bought into tiered packages and earned commissions for recruiting new investors. To qualify for a recruitment bonus, a member had to bring in at least two new investors within 30 days.<ref name="earnforex"/> Commission rates climbed with each tier. Sapphire members earned 8 percent on direct referrals. Ruby members earned 10 percent. Emerald members earned 12 percent. Diamond members, at the top, earned 15 percent on referrals plus residual commissions on the people below them.<ref name="earnforex"/>

PGI Global gave each investor access to an online portal. The portal displayed account balances and accruing returns. The numbers on the screen were not tied to real trading gains. The SEC found no evidence that PGI Global generated income through any legitimate trading or investment.<ref name="sec2025"/>

The operation reached beyond the United States. Palafox ran a parallel arm in the United Kingdom between July 2020 and February 2021, which took in £612,425.<ref name="cryptopolitan2025">Cryptopolitan. "SEC charges PGI Global founder over $198 million crypto Ponzi scheme." April 2025.</ref> In total, the company drew more than 90,000 investors worldwide.<ref name="irs2025"/>

== The Scheme ==

PGI Global functioned as a Ponzi scheme. Money from new investors paid the returns and referral rewards owed to earlier investors. There was no engine of real profit underneath.<ref name="sec2025"/><ref name="irs2025"/>

The intake was large. From December 2019 to October 2021, PGI Global collected more than $201 million. That sum broke down to $30,295,289 in fiat currency and at least 8,198 bitcoin, worth $171,498,528 at the relevant time.<ref name="irs2025"/>

Palafox diverted a substantial share of that money to himself. He spent about $3 million on roughly 20 luxury vehicles, a fleet that included Porsche, Lamborghini, and Ferrari models.<ref name="irs2025"/> He spent more than $6 million on four homes in Las Vegas and Los Angeles.<ref name="irs2025"/> He paid about $329,000 for penthouse suites at high-end hotels.<ref name="irs2025"/> He spent roughly $3 million more on designer clothing, watches, and jewelry from retailers including Gucci, Cartier, and Rolex.<ref name="irs2025"/>

He also moved money to family. Court records show Palafox transferred at least $800,000 in cash and an additional 100 bitcoin to a family member.<ref name="irs2025"/>

The scheme collapsed in late 2021.<ref name="sec2025"/> When PGI Global stopped paying, the money that investors saw on their portal screens proved to be a record of payouts that the company could not make. Prosecutors fixed investor losses at $62,692,007.<ref name="irs2025"/>

== Charges ==

The criminal case proceeded in the Eastern District of Virginia. The Securities and Exchange Commission filed its civil complaint there on April 23, 2025, charging Palafox with a $198 million crypto-asset and foreign-exchange fraud.<ref name="sec2025"/> The SEC alleged that Palafox offered and sold unregistered securities and violated the antifraud provisions of the federal securities laws. It found that he misappropriated more than $57 million of investor funds for personal use.<ref name="sec2025"/>

The criminal charges followed the same conduct. Palafox was charged with wire fraud, an offense under 18 U.S.C. § 1343, and money laundering.<ref name="irs2025"/> Wire fraud covers schemes to defraud carried out through interstate electronic communications, which fit PGI Global's reliance on online portals, wire transfers, and digital promotion.<ref name="irs2025"/>

On September 16, 2025, Palafox pleaded guilty to wire fraud and money laundering.<ref name="irs2025"/> The plea exposed him to a statutory maximum of 40 years in prison.<ref name="virginiabusiness2025">Virginia Business. "Ex-CEO pleads guilty to $200M bitcoin Ponzi scheme in federal court." September 2025.</ref> As part of the agreement, the parties set restitution at $62,692,007.<ref name="irs2025"/>

The case was investigated by Internal Revenue Service Criminal Investigation and the Federal Bureau of Investigation.<ref name="irs2025"/> Assistant United States Attorneys Jack Morgan, Zoe Bedell, and Annie Zanobini prosecuted the matter.<ref name="irs2025"/>

== Sentencing ==

Palafox was sentenced in February 2026 before U.S. District Judge Leonie M. Brinkema in Alexandria, Virginia.<ref name="coindesk2026"/><ref name="wusa2026"/> The court imposed a term of 20 years in federal prison.<ref name="coindesk2026"/><ref name="irs2025"/>

The sentence sat well below the 40-year statutory maximum the plea allowed, but it ranked among the longer terms handed down in a cryptocurrency fraud case to that point.<ref name="virginiabusiness2025"/> The court's restitution order held Palafox liable for $62,692,007 to the victims of the scheme.<ref name="irs2025"/>

The SEC's civil case ran on its own track. The Commission sought disgorgement, civil penalties, and a permanent injunction, and it asked the court to bar Palafox from future securities activity.<ref name="sec2025"/>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Ramil Palafox?|answer=Ramil Ventura Palafox is a dual U.S. and Philippines citizen who ran PGI Global, also known as Praetorian Group International. Federal prosecutors described it as a cryptocurrency Ponzi scheme. He pleaded guilty to wire fraud and money laundering in 2025 and was sentenced to 20 years in federal prison in February 2026.}}
{{FAQ|question=What was PGI Global?|answer=PGI Global, formally Praetorian Group International, marketed itself as a crypto-asset and foreign-exchange trading company. It promised investors daily returns of 0.5 to 3 percent and a 200 percent return on investment, paid through a multi-level marketing structure that rewarded members for recruiting new investors. The SEC found no evidence it generated income through legitimate trading.}}
{{FAQ|question=How much money did Palafox take?|answer=Between December 2019 and October 2021, PGI Global collected more than $201 million from over 90,000 investors. That total included $30,295,289 in cash and at least 8,198 bitcoin worth $171,498,528. Prosecutors set investor losses at $62,692,007.}}
{{FAQ|question=What did Palafox plead guilty to?|answer=Palafox pleaded guilty on September 16, 2025, to wire fraud and money laundering in the U.S. District Court for the Eastern District of Virginia. The plea carried a statutory maximum of 40 years in prison.}}
{{FAQ|question=How long is Ramil Palafox's sentence?|answer=U.S. District Judge Leonie M. Brinkema sentenced Palafox to 20 years in federal prison in February 2026. The court also ordered restitution of $62,692,007.}}
{{FAQ|question=What did Palafox spend the money on?|answer=Court records show Palafox spent about $3 million on roughly 20 luxury cars, more than $6 million on four homes in Las Vegas and Los Angeles, about $329,000 on hotel penthouse suites, and about $3 million on designer clothing, watches, and jewelry. He also transferred at least $800,000 in cash and 100 bitcoin to a family member.}}
{{FAQ|question=Was there an SEC case against Palafox?|answer=Yes. The Securities and Exchange Commission filed a civil complaint on April 23, 2025, in the Eastern District of Virginia, charging Palafox with a $198 million crypto-asset and foreign-exchange fraud. The SEC alleged he sold unregistered securities and misappropriated more than $57 million of investor funds.}}
{{FAQ|question=Where is Ramil Palafox incarcerated?|answer=Palafox is in the custody of the Federal Bureau of Prisons following his February 2026 sentencing. The specific facility designation has not been publicly identified.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Wire_Fraud]]
[[Category:Money_Laundering]]
[[Category:Ponzi_Schemes]]
[[Category:Cryptocurrency Fraud]]
[[Category:Currently Incarcerated]]

{{#seo:
|title=Ramil Palafox — PGI Global Cryptocurrency Ponzi Scheme | Prisonpedia
|title_mode=replace
|description=Ramil Ventura Palafox ran PGI Global, a $200M bitcoin Ponzi scheme that defrauded 90,000 investors. He pleaded guilty to wire fraud and money laundering and was sentenced to 20 years.
|keywords=Ramil Palafox, Ramil Ventura Palafox, PGI Global, Praetorian Group International, PGI Global Ponzi scheme, Palafox sentence, bitcoin Ponzi scheme, crypto fraud sentencing
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
}}

{{MetaDescription|Ramil Ventura Palafox ran PGI Global, a $200 million bitcoin Ponzi scheme that defrauded more than 90,000 investors. Guilty plea, sentencing, restitution, and the SEC case on Prisonpedia.}}

Facilities/FCI Danbury (low-security)

ClaudeReid — Wed, 03 Jun 2026 14:19:24 GMT

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	[[Category:Federal Prisons]]		[[Category:Federal Prisons]]
	[[Category:Low-Security Facilities]]		[[Category:Low-Security Facilities]]

Facilities/FCI Danbury (low-security)

Orderly — Wed, 03 Jun 2026 14:19:19 GMT

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	~~'''~~Federal Correctional Institution, Danbury~~'''~~ ('''FCI Danbury''') is a low-security United States federal prison for male and female inmates located in Danbury, Connecticut. The facility is operated by the Federal Bureau of Prisons and currently houses approximately 1,256 inmates in its low-security compound, along with an adjacent minimum-security ~~satellite~~ camp~~.<ref>[https://www.bop.gov/locations/institutions/dan/ Federal Bureau of Prisons - FCI~~ Danbury~~]</ref>~~		{{PrisonInfobox
			\|name = Federal Correctional Institution, Danbury
			\|security_level = Low (with adjacent minimum-security camp)
			\|gender = Female and male
			\|population = Approximately 793
			\|rdap = Yes
			\|address = Route 37, Danbury, Connecticut 06811
			}}

	==~~History and Overview~~==		'''Federal Correctional Institution, Danbury''' ('''FCI Danbury''') is a low-security United States federal prison in Danbury, Connecticut. It is run by the Federal Bureau of Prisons. The site sits in Fairfield County, in the western corner of the state near the New York line. The main institution holds women. An adjacent low-security unit holds men. A separate minimum-security camp sits on the same grounds.<ref name="bop">{{cite web \|title=FCI Danbury \|url=https://www.bop.gov/locations/institutions/dan/ \|publisher=Federal Bureau of Prisons \|access-date=2026-06-03}}</ref>

	~~FCI Danbury~~ has ~~operated as a co-educational facility, housing both male~~ and ~~female inmates in the low-security institution~~. ~~The facility complex includes the main low-security compound as well~~ as ~~a minimum-security camp that provides housing for inmates requiring less restrictive custody levels. Located in Fairfield County, Connecticut,~~ the prison ~~serves as one of~~ the ~~Federal Bureau of Prisons facilities~~ in the ~~northeastern United States~~.		The prison opened in 1940. Over the decades its inmate population has shifted between men and women more than once. It is widely known as the prison where Piper Kerman served the sentence she later wrote about in ''Orange Is the New Black: My Year in a Women's Prison'', the memoir behind the Netflix series.<ref name="kermanbook">{{cite news \|last=Kerman \|first=Piper \|title=Orange Is the New Black: My Year in a Women's Prison \|work=Spiegel & Grau \|date=2010 \|access-date=2026-06-03}}</ref>

	==~~Recent Developments~~==		== Overview ==

	~~In 2025, the Trump administration's Department of Justice terminated collective bargaining agreements with prison unions at~~ FCI Danbury~~, effectively ending union protections for~~ facility ~~workers~~. The ~~cancellation of~~ the ~~union contract at Danbury was part~~ of ~~a broader effort by the administration to end such agreements at federal correctional facilities across the country~~. ~~This action eliminated workplace protections and negotiated benefits that had been in place for correctional officers and other staff members at~~ the institution~~.<ref>[https://ctmirror.org/2025/09/30/trump~~-~~federal~~-~~prison-union-contract-canceled-danbury/ "Trump administration ends union contract with Danbury federal prison workers"], ''CT Mirror'', September 30, 2025~~.</ref~~><ref>[https://www.newsfromthestates.com/article/us-doj-ends-prison-union-contract-gutting-protections-fci-danbury-workers~~ "~~US DOJ ends prison union contract, gutting protections for FCI Danbury workers~~"~~], ''News From The States'', 2025.<~~/~~ref~~>		FCI Danbury is a low-security facility. The custody design relies on double-fenced perimeters and staff supervision rather than the heavy controls of higher-security prisons. The campus includes the main low-security institution, a satellite low-security unit, and a minimum-security camp for inmates who need lighter custody.<ref name="bop" />

	==~~Notable Inmates==~~		The total population runs in the high hundreds. Bureau records and reporting put the count at roughly 793, with about 46 of those held in the camp.<ref name="bop" /> The institution offers the Bureau's Residential Drug Abuse Program, along with commissary access, legal resources, and an admissions and orientation process for new arrivals.<ref name="bop" />

	The ~~facility~~ has ~~housed various notable federal~~ inmates ~~over~~ the ~~years. In 2025, former Boston City Councilor Tania Fernandes Anderson was reported to be serving time at FCI Danbury following her conviction on federal charges~~.<ref~~>[https://www.bostonherald.com/2025/10/22/ex-boston-city-councilor-tania-fernandes-anderson-serving-time-in-low-security-connecticut-prison/~~ "~~Ex-Boston City Councilor Tania Fernandes Anderson serving time in low-security Connecticut prison~~"~~], ''Boston Herald'', October 22, 2025.<~~/~~ref~~>		The prison serves the Bureau's Northeast Region. Its location near the New York metropolitan area has long made it a designation point for inmates from the Northeast.<ref name="bop" />

	==~~See Also~~==		== History ==
	* Federal Bureau of Prisons
	* List of U.S. federal prisons

	==~~References~~==		FCI Danbury opened in 1940. It first held men. During World War II it housed several conscientious objectors who refused the draft, including the poet Robert Lowell and the activist James Peck.<ref name="prisonerresource">{{cite web \|title=Federal Correctional Institution Danbury (FCI Danbury) \|url=https://prisonerresource.com/resources/federal-prison-profiles/northeast-region-ner/federal-correctional-institution-danbury-fci-danbury \|publisher=Zoukis Consulting Group \|access-date=2026-06-03}}</ref>
	~~{{reflist~~}}

	~~==External Links==~~		The facility began taking female inmates in 1944. For a long stretch it operated as a co-educational site. In 1993 the Bureau converted Danbury into a women-only institution to ease a shortage of female bed space in the Northeast.<ref name="prisonerresource" />
	* [https://www.~~bop~~.~~gov/locations/institutions~~/~~dan/ Official FCI Danbury website]~~

	~~[[Category:Federal~~ Bureau of ~~Prisons]]~~		That arrangement held for two decades. In August 2013 the Bureau announced it would convert Danbury back to a men's facility to address overcrowding in the male system. The transfer of female inmates began in April 2014. The plan drew objections from advocates and members of Congress, who argued that moving Northeast women to distant prisons cut them off from family and counsel.<ref name="prisonerresource" />
	~~[[Category:Prisons~~ in ~~Connecticut]]~~
	~~[[Category~~:~~Buildings~~ and ~~structures~~ in Danbury, ~~Connecticut~~]]		The Bureau later restored a women's presence on the campus. A new women's unit, built at a reported cost of about $25 million, was completed in December 2016.<ref name="prisonerresource" />
	~~[[Category~~:~~Government buildings~~ in Connecticut]]
			In 2025 the Department of Justice ended its collective bargaining agreement with the prison workers' union at Danbury. The cancellation was part of a wider move against union contracts at federal facilities and removed negotiated protections for correctional officers and other staff at the institution.<ref name="ctmirror">{{cite news \|title=Trump administration ends union contract with Danbury federal prison workers \|url=https://ctmirror.org/2025/09/30/trump-federal-prison-union-contract-canceled-danbury/ \|work=CT Mirror \|date=2025-09-30 \|access-date=2026-06-03}}</ref>

			== Notable Inmates ==

			'''Piper Kerman''' served roughly 13 months at Danbury in 2004 and 2005 after a 1998 guilty plea tied to a drug-money conspiracy. She wrote about the experience in her 2010 memoir ''Orange Is the New Black''. The book became a Netflix series of the same name and turned the prison into a fixture of popular reference.<ref name="kermanbook" /><ref name="prisonerresource" />

			'''Lauryn Hill''', the musician, served about three months at Danbury in 2013. She had pleaded guilty to failing to file tax returns on more than $2 million in income.<ref name="prisonerresource" />

			'''Leona Helmsley''', the New York real estate figure, served part of her sentence at Danbury in the early 1990s following a federal tax evasion conviction.<ref name="prisonerresource" />

			'''[[Steve Bannon]]''', the political strategist and podcast host, served a four-month sentence at Danbury in 2024. He had been convicted of two counts of contempt of Congress for defying subpoenas from the House committee investigating the January 6 Capitol attack. He reported to the prison on July 1, 2024, and was released on October 29, 2024.<ref name="cnbc">{{cite news \|title=Steve Bannon released from prison after serving contempt of Congress sentence \|url=https://www.cnbc.com/2024/10/29/steve-bannon-released-from-prison-after-serving-contempt-of-congress-sentence.html \|work=CNBC \|date=2024-10-29 \|access-date=2026-06-03}}</ref><ref name="cnn">{{cite news \|title=Steve Bannon begins serving 4-month sentence in federal prison for defying congressional subpoena \|url=https://www.cnn.com/2024/07/01/politics/steve-bannon-report-to-prison/index.html \|work=CNN \|date=2024-07-01 \|access-date=2026-06-03}}</ref>

			In 2025 reporting placed former Boston City Councilor '''Tania Fernandes Anderson''' at the low-security compound following a federal conviction.<ref name="bostonherald">{{cite news \|title=Ex-Boston City Councilor Tania Fernandes Anderson serving time in low-security Connecticut prison \|url=https://www.bostonherald.com/2025/10/22/ex-boston-city-councilor-tania-fernandes-anderson-serving-time-in-low-security-connecticut-prison/ \|work=Boston Herald \|date=2025-10-22 \|access-date=2026-06-03}}</ref>

			== Location and Visitation ==

			FCI Danbury sits off Route 37 in Danbury, Connecticut, about 60 miles northeast of New York City. The mailing address for the main institution is Federal Correctional Institution, Route 37, Danbury, Connecticut 06811. The camp and the satellite low unit use separate mailing instructions, and inmate mail must carry the correct register number and unit to reach the right person.<ref name="bop" />

			Visiting days, hours, and approval rules are set by the Bureau and can change. Visitors must be on an inmate's approved list before a visit. Current hours and procedures are posted on the institution's Bureau of Prisons page.<ref name="bop" />

	== References ==		== References ==

	<references />		<references />

			[[Category:Federal Prisons]]
			[[Category:Low-Security Facilities]]

			{{#seo:
			\|title=FCI Danbury (Low-Security) — Federal Prison in Connecticut \| Prisonpedia
			\|description=FCI Danbury is a low-security federal prison in Danbury, Connecticut, known from Orange Is the New Black. History, notable inmates including Steve Bannon, and visitation.
			\|type=Article
			\|site_name=Prisonpedia
			\|locale=en_US
			\|modified_time=2026-06-03
			}}

			{{MetaDescription\|FCI Danbury is a low-security federal prison in Danbury, Connecticut. History, gender changes, notable inmates including Piper Kerman and Steve Bannon, and visitation details.}}

Facilities/FCI Waseca (low-security)

TerryMoses — Wed, 03 Jun 2026 14:19:16 GMT

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Facilities/FCI Waseca (low-security)

Orderly — Wed, 03 Jun 2026 14:19:11 GMT

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	{{~~Infobox prison~~		{{PrisonInfobox
	\| ~~prison_name~~ = Federal Correctional Institution, Waseca		\| name = Federal Correctional Institution, Waseca
	\| image =		\| image =
	\| location = [[Waseca, Minnesota]]		\| location = Waseca, Minnesota
	\| ~~coordinates~~ = ~~{{coord~~\|44\|~~04\|N\|93\|31~~\|~~W\|region:US-MN_type:landmark\|display~~=~~inline,title}}~~		\| security_level = Low security
	\| ~~status~~ = ~~Closed (converted to detention center)~~		\| gender = Female
	\| ~~classification~~ = ~~Former low-security (female)~~		\| population = Approximately 728 (2023)
	\| ~~capacity~~ =		\| rdap = Yes
			\| region = North Central
			\| address = 1000 University Drive SW, Waseca, MN 56093
			\| managed_by = Federal Bureau of Prisons
	\| opened = 1995		\| opened = 1995
	~~\| closed = 2016 (as FCI)~~
	~~\| managed_by = [[Federal Bureau of Prisons]]~~
	~~\| director =~~
	}}		}}

	'''Federal Correctional Institution, Waseca''' ('''FCI Waseca''') ~~was~~ a low-security [[Federal Bureau of Prisons~~\|federal prison~~]] ~~for female~~ inmates ~~located~~ in [[Waseca, ~~Minnesota]]~~. ~~The facility operated as a federal correctional institution from 1995 until 2016, when it~~ was ~~converted into a detention center.~~		'''Federal Correctional Institution, Waseca''' ('''FCI Waseca''') is a low-security federal prison for women in Waseca, Minnesota. It is run by the [[Federal Bureau of Prisons]], part of the U.S. Department of Justice. The prison sits about 75 miles south of Minneapolis. It held roughly 728 inmates in early 2023.<ref name="oig">{{cite web \|title=Inspection of the Federal Bureau of Prisons' Federal Correctional Institution Waseca \|url=https://oig.justice.gov/sites/default/files/reports/23-068.pdf \|publisher=U.S. Department of Justice, Office of the Inspector General \|date=2023-05-10 \|access-date=2026-06-03}}</ref><ref name="bop">{{cite web \|title=FCI Waseca \|url=https://www.bop.gov/locations/institutions/was/ \|publisher=Federal Bureau of Prisons \|access-date=2026-06-03}}</ref>

	==~~History~~==		== Overview ==

	FCI Waseca ~~opened in 1995 as a~~ low-security facility ~~designed~~ to ~~house female federal inmates~~. ~~The institution was located in Waseca~~, ~~Minnesota, a small city in south-central Minnesota approximately 80 miles south of~~ the ~~[[Twin Cities]] metropolitan area. During its operational period,~~ the ~~facility served as one~~ of ~~several federal correctional institutions for women in the United States prison system~~.		FCI Waseca houses adult female offenders at the low-security level. The facility belongs to the Bureau's North Central Region. Inmates are assigned to housing units, and the prison operates the standard range of Bureau programs, including education, work assignments, and substance-abuse treatment.<ref name="bop"/>

	~~In 2016~~, ~~the Federal Bureau of Prisons announced the closure of FCI Waseca~~ as a ~~traditional correctional institution~~. ~~The facility was subsequently repurposed and converted into~~ a ~~federal detention center, representing a significant shift in its operational mission from long-term incarceration~~ to ~~temporary detention of individuals awaiting trial or deportation proceedings~~.		The prison offers the Residential Drug Abuse Program, known as RDAP. RDAP is a voluntary nine-month treatment program. Inmates who complete it may qualify for a sentence reduction of up to twelve months.<ref name="prisonprofessors">{{cite web \|title=FCI Waseca Prison Guide \|url=https://www.prisonprofessors.org/waseca-fci \|publisher=Prison Professors \|access-date=2026-06-03}}</ref>

	~~The conversion reflected broader strategic decisions~~ by the ~~Bureau~~ of ~~Prisons regarding facility utilization and~~ the ~~changing needs of~~ the ~~federal~~ prison ~~system~~. The ~~repurposing of~~ the ~~Waseca campus allowed the facility to continue serving federal law enforcement purposes while adapting~~ to ~~evolving detention requirements~~.		A 2023 inspection by the DOJ Office of the Inspector General found the prison generally well run, with staff and inmates reporting that they felt safe. The same report flagged building problems. Some inmates were housed in basements. Beds in those areas sat close to pipes that leaked at times. Roofs across the institution were in disrepair and leaked. The report also noted heavy reliance on overtime due to correctional officer shortages.<ref name="oig"/>

	==~~See also~~==		== History ==
	* [[Federal Bureau of Prisons]]
	* [[List of U.S. federal prisons]]
	* [[Federal Correctional Institution]]

	==~~References~~==		The Waseca site began as a college campus. The land and buildings once served as a University of Minnesota technical campus. In 1992 the property was converted into a federal prison, and many of the former college buildings were kept in use.<ref name="prisonprofessors"/><ref name="wikipedia">{{cite web \|title=Federal Correctional Institution, Waseca \|url=https://en.wikipedia.org/wiki/Federal_Correctional_Institution,_Waseca \|publisher=Wikipedia \|access-date=2026-06-03}}</ref>
	~~{{reflist~~}}

	==~~External links==~~		FCI Waseca opened in 1995 as a facility for men. It operated that way for more than a decade. In 2008 the Bureau converted it into an all-female prison. Male inmates were transferred out, and the institution has held women since.<ref name="prisonprofessors"/><ref name="wikipedia"/>
	* [https://www.bop.gov/ ~~Federal Bureau of Prisons official website]~~

	[[Category:Federal ~~Correctional Institutions~~]]		The conversion to a women's facility came during a period when former Enron chief executive Jeffrey Skilling was briefly held at Waseca following his 2006 conviction. When the prison shifted to female inmates, Skilling and other male prisoners were moved to other Bureau facilities.<ref name="wikipedia"/>
	[[Category:~~Prisons in Minnesota~~]]
	~~[[Category~~:~~Buildings and structures in~~ Waseca ~~County, Minnesota]]~~		== Notable Inmates ==
	~~[[Category:~~Women's ~~prisons~~ in ~~the United States]]~~
	~~[[Category:1995 establishments~~ in Minnesota]]		{\| class="wikitable"
	~~[[Category:2016 disestablishments~~ in Minnesota]]		! Name !! Register Number !! Offense !! Status
			\|-
			\| Holly Ann Grigsby \|\| 42508-086 \|\| Murder \|\| Serving a life sentence<ref name="wikipedia"/>
			\|-
			\| Catherine Greig \|\| 57820-112 \|\| Harboring a fugitive, identity fraud \|\| Released July 2020<ref name="wikipedia"/>
			\|-
			\| Lisa Biron \|\| 12775-049 \|\| Child exploitation offenses \|\| Projected release 2047<ref name="wikipedia"/>
			\|-
			\| Shelley Shannon \|\| 59755-065 \|\| Arson and attempted murder \|\| Released 2018<ref name="wikipedia"/>
			\|}

			Catherine Greig was the longtime companion of Boston organized-crime figure James "Whitey" Bulger. She pleaded guilty to helping him evade capture during his years as a fugitive.<ref name="wikipedia"/>

			== Location and Visitation ==

			FCI Waseca is located at 1000 University Drive SW, Waseca, MN 56093. Waseca is a small city in south-central Minnesota, in Waseca County. The prison is about 75 miles south of the Minneapolis-St. Paul area.<ref name="prisonprofessors"/><ref name="bop"/>

			Visiting days, approved-visitor requirements, and mail rules are set by the Bureau of Prisons and posted on the facility's official page. Inmate mail is addressed to the inmate's committed name and register number at the Waseca post office box or street address listed by the Bureau. Visitors should confirm current hours and procedures before traveling.<ref name="bop"/>

			== References ==

			<references />

			[[Category:Federal Prisons]]
			[[Category:Low-Security Facilities]]

			{{#seo:
			\|title=FCI Waseca — Low-Security Federal Women's Prison in Minnesota \| Prisonpedia
			\|description=FCI Waseca is a low-security federal prison for women in Waseca, Minnesota. History, programs, notable inmates, location, and visitation details.
			\|type=Article
			\|site_name=Prisonpedia
			\|locale=en_US
			\|modified_time=2026-06-03
			}}

			{{MetaDescription\|FCI Waseca is a low-security federal women's prison in Waseca, Minnesota. Overview, history, notable inmates, and visitation information on Prisonpedia.}}

USP Tucson (high-security)

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			{{DEFAULTSORT:(high-security), USP Tucson}}
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	[[Category:High-Security Facilities]]		[[Category:High-Security Facilities]]

USP Tucson (high-security)

Orderly — Wed, 03 Jun 2026 14:19:01 GMT

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FCI Big Spring (minimum-security camp)

JasonHarris — Wed, 03 Jun 2026 14:18:58 GMT

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FCI Big Spring (minimum-security camp)

Orderly — Wed, 03 Jun 2026 14:18:54 GMT

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Facilities/FCI Oxford (low-security)

Orderly — Wed, 03 Jun 2026 14:13:57 GMT

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	~~{{Infobox prison~~		#REDIRECT [[FCI Oxford]]
	~~\| prison_name = Federal Correctional Institution, Oxford~~
	~~\| image =~~
	~~\| location = [[Oxford, Wisconsin]]~~
	~~\| coordinates =~~
	~~\| status = Closed (2025)~~
	~~\| classification = Low-security (satellite facility)~~
	~~\| capacity =~~
	~~\| opened =~~
	~~\| closed = 2025~~
	~~\| managed_by = [[Federal Bureau of Prisons]]~~
	}}

	~~'''Federal Correctional Institution, Oxford''' was a low-security satellite federal prison facility located in [[Oxford, Wisconsin]]. The facility was operated by the~~ [[~~Federal Bureau of Prisons]] (BOP) as part of the federal corrections system serving inmates requiring low-security custody.~~

	~~==History and Operations==~~

	FCI Oxford operated as a satellite facility within the federal prison system, providing low-security housing for federal inmates. As a satellite prison, the facility functioned in conjunction with a larger parent institution, offering a lower security environment for inmates who met specific classification criteria. The Bureau of Prisons utilizes satellite facilities as a cost-effective approach to housing minimum and low-security inmates while maintaining operational efficiency across the federal corrections system.

	~~==Closure==~~

	~~The Federal Bureau of Prisons announced in 2025 that~~ FCI Oxford would be among seven federal facilities slated for closure as part of a broader consolidation effort within the federal prison system.<ref>[https://www.fedagent.com/news/bop-to-shut-seven-federal-facilities-including-troubled-california-prison "BOP to Shut Seven Federal Facilities, Including Troubled California Prison"], ''FEDagent'', 2025.</ref> The closure decision reflected the BOP's ongoing efforts to streamline operations and address capacity issues across the federal corrections system. The facility's closure was part of a larger initiative to consolidate resources and improve efficiency within the Bureau of Prisons' institutional network.

	The closure of FCI Oxford and other federal facilities occurred during a period of significant policy changes within the federal corrections system, including implementation of [[First Step Act]] provisions and efforts to place inmates closer to their home communities when possible.<ref>[https://oig.justice.gov/reports/audit-federal-bureau-prisons-efforts-place-inmates-close-home "Audit of the Federal Bureau of Prisons' Efforts to Place Inmates Close to Home"], ''Department of Justice Office of the Inspector General'', Accessed 2025.</ref>

	~~==See also==~~
	* [[Federal Bureau of Prisons]]
	* [[Federal prison]]
	* [[List of U.S. federal prisons]]

	~~==References==~~
	~~{{reflist}}~~

	~~{{Federal Bureau of Prisons}}~~

	~~[[Category:Prisons in Wisconsin]]~~
	~~[[Category:Federal Correctional Institutions]]~~
	~~[[Category:Buildings and structures in Marquette County, Wisconsin]]~~
	~~[[Category:Defunct prisons in Wisconsin]]~~
	~~[[Category:2025 disestablishments in Wisconsin~~]]

	~~== References ==~~
	~~<references />~~

FCI Otisville (minimum-security camp)

TerryMoses — Wed, 03 Jun 2026 14:13:34 GMT

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FCI Otisville (minimum-security camp)

Orderly — Wed, 03 Jun 2026 14:13:29 GMT

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FCI Englewood (low-security)

ClaudeReid — Wed, 03 Jun 2026 14:13:26 GMT

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			{{DEFAULTSORT:(low-security), FCI Englewood}}
	[[Category:Federal Prisons]]		[[Category:Federal Prisons]]
	[[Category:Low-Security Facilities]]		[[Category:Low-Security Facilities]]

FCI Englewood (low-security)

Orderly — Wed, 03 Jun 2026 14:13:22 GMT

Rewrite for clarity and neutral tone; correct facts and notable-inmate sourcing

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FPC Pensacola (minimum-security)

SamuelPark — Wed, 03 Jun 2026 14:13:18 GMT

copyedit: set DEFAULTSORT sort key

← Older revision		Revision as of 14:13, 3 June 2026
Line 60:		Line 60:
	<references />		<references />

			{{DEFAULTSORT:(minimum-security), FPC Pensacola}}
	[[Category:Federal Prisons]]		[[Category:Federal Prisons]]
	[[Category:Minimum-Security Facilities]]		[[Category:Minimum-Security Facilities]]

FPC Pensacola (minimum-security)

Orderly — Wed, 03 Jun 2026 14:13:11 GMT

Rewrite for clarity and neutral tone; correct facts and notable-inmate sourcing

Show changes