Man sentenced for role in multimillion-dollar investment fraud scheme

Man sentenced for role in multimillion-dollar investment fraud scheme
Prison bars (Source: KLTV)

RICHMOND, Va. (WWBT) - A Richmond man was sentenced on Friday for his role in an investment scheme that defrauded investors of $5.7 million.

According to court documents, James Michael Johnson, 69, was involved in a worldwide scheme through Chimera Group Ltd., a purported investment company based out of the United Kingdom.

Johnson was previously convicted of conspiracy to commit wire fraud, wire fraud and conspiracy to commit money laundering after a multi-day trial last year.

“For more than four years, the defendant and his co-conspirators stole over $5 million from victim investors, which included individuals, startup business entities, and a volunteer fire department,” said Raj Parekh, Acting U.S. Attorney for the Eastern District of Virginia. “Thanks to the outstanding work of the trial team and our law enforcement partners, the defendant has been held accountable for inflicting significant economic harm on his victims and abusing their trust.”

Johnson was sentenced to 97 months in prison.

For more information, click here.

Copyright 2021 WWBT. All rights reserved.