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A Santa Barbara man was sentenced on Tuesday to over 11 years in federal prison for stealing around $14 million as part of a Ponzi scheme where victims thought that their investments would be used to buy annuities issued by Swiss insurance companies.
Santa Barbara Man Who Allegedly Ran $12 Million Ponzi Scheme Indicted on Federal Fraud and Money Laundering Charges imperialvalleynews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from imperialvalleynews.com Daily Mail and Mail on Sunday newspapers.
Santa Barbara man accused of using money from fake annuity sales to support lavish lifestyle
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and last updated 2021-06-29 19:54:30-04
A Santa Barbara man accused of stealing approximately $12 million from victims who thought their money was being used to buy annuities from Swiss insurance companies is facing 11 counts of wire fraud and money laundering.
Darrell Arnold Aviss, 63, was arrested on June 18, according to the U.S. Department of Justice (DOJ).
In an indictment filed against him on Tuesday, Aviss is accused of soliciting money from people who wanted to purchase annuities from insurance companies based in Switzerland, claiming the annuities were safe and secure and could pay interest rates ranging from 5 to 7 percent.
Santa Barbara man charged with wire fraud, money laundering $12 Million keyt.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from keyt.com Daily Mail and Mail on Sunday newspapers.