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.
The eight-count indictment accusing Matthew Wade Beasley of wire fraud and money laundering comes almost one year to the day after the personal injury attorney was shot and wounded by FBI agents at his $1.1 million home in Las Vegas, leading to a four-hour standoff that ended with his arrest. He was charged with assault on a federal officer.
Jacqueline Tirinnanzi, Beasley’s attorney, did not immediately respond Thursday to an email seeking comment from The Associated Press. But there were no clients, prosecutors said. Instead, according to the indictment, Beasley used new investor money to pay his earlier investors, creating the illusion that the company had real clients who were repaying the loans with interest.said the scam targeted members of The Church of Jesus Christ of Latter-day Saints as a “Mormon Ponzi scheme.
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