An Arizona man has been sentenced to 87 months behind bars, adopted by three years of supervised launch, after scamming 54 people to pay for a gambling habit and lead a lavish life-style, in response to a press release from the USA Legal professional’s Workplace.
Anthonie Ruinard, Jr, may also need to pay $4,508,057 in restitution to each sufferer within the case.
Arizona Man Sentenced to Greater than Seven Years for Defrauding 54 Victims in Funding Fraud Schemehttps://t.co/K7L3VvnbBO pic.twitter.com/y8u92NCuE9
— FBI Phoenix (@FBIPhoenix) November 24, 2025
Ruinard was in a position to fraudulently rip-off 54 individuals out of roughly $5.6 million by means of an investment fraud scheme, which was underneath the guise of a enterprise titled Legacy Traders Group Inc.
The 40-year-old posed as a profitable investor and promised these affected within the case a assured return throughout investments in areas reminiscent of actual property and personal fairness.
Some victims did obtain cash early on within the scheme to keep away from suspicion, however Ruinard used excuses reminiscent of the continuing warfare in Ukraine and an unprecedented market to maintain the ruse going.
“This sentencing sends a transparent and unmistakable message: people who have interaction in monetary fraud for private acquire can be held accountable,” stated Heith Janke, the FBI agent who was in command of the case.
“The FBI, along with our legislation enforcements companions, will proceed to establish, examine and pursue those that orchestrate legal schemes for their very own revenue. We stay dedicated to defending the general public and safeguarding the integrity of our monetary system.”
Authorities say that whereas his fraud case was nonetheless unfolding, Ruinard Jr. allegedly killed an 18-year-old visiting Arizona in 2023. He’s now dealing with a separate set of expenses for that incident, together with second-degree homicide and abandoning a physique.
Arizona decide points sentence in gambling-fueled fraud case
United States District Decide Susan M. Brnovich delivered the sentence on November 17, and it is going to be ten years earlier than he can stay a traditional life once more.
“Fraudsters actively prey on communities to steal hard-earned cash through the use of belief and false guarantees for their very own greed and profit,” stated U.S. Legal professional Timothy Courchaine following the information.
“This sentence demonstrates that not solely will scammers be held accountable financially, they may also face vital time in jail. The USA Legal professional’s Workplace will proceed to prosecute these crimes to be able to shield the trustworthy work of those that construct their lives right here in Arizona.”
Ruinard took thousands and thousands from his victims and spent it on objects reminiscent of an armored car, playing, residing bills and bank card funds.
It was reported in 2024 that round 80 million US customers have misplaced cash to fraud or monetary scams over the earlier 5 years.
Featured picture: Maricopa County Sheriff’s Workplace
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