A personal injury lawyer in Las Vegas has been indicted on federal charges that he orchestrated a $460 million Ponzi scheme in Nevada, Utah and California.
A longtime Las Vegas attorney was indicted Wednesday on federal charges that he orchestrated a $460 million Ponzi scheme spanning multiple states, from Nevada and Utah to California and Arizona.
Beasley has been in federal custody since the standoff — during which prosecutors have said the lawyer, then 49, “repeatedly confessed” to his involvement in the investment scheme while on the phone with a negotiator. Beasley remained in the house until FBI SWAT agents entered. According to the indictment, Beasley enlisted investors for a company that claimed to offer short-term loans with high interest rates to clients awaiting payment after settling their personal injury “slip-and-fall” cases. Authorities have said investors were promised a return of up to 13% within 90 days of investing their money.
Between 2017 and March 2022, when Beasley was arrested, hundreds of people invested more than $460 million into the scheme, according to the indictment. The attorney allegedly used that money to fund what prosecutors have described as an “opulent” lifestyle, including luxury homes and cars and recreational vehicles.
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