San Antonio-area man accused of defrauding retired cops pleads guilty
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Victor Lee Farias, a Fair Oaks Ranch businessman, entered a guilty plea in a federal criminal case Wednesday. U.S. Magistrate Judge Richard B. Farrer accepted the plea via Zoom rather than in-person in the John H. Wood Jr. U.S. Courthouse.File photo
A Fair Oaks Ranch businessman faces up to 20 years in federal prison after he pleaded guilty Wednesday to orchestrating a Ponzi scheme that cost investors more than $7.4 million.
Victor Lee Farias, owner of Boerne-based Integrity Aviation & Leasing LLC, entered a guilty plea to one count of wire fraud during a hearing conducted by U.S. Magistrate Judge Richard B. Farrer via Zoom.
Orchestrator of aviation engine Ponzi scheme pleads guilty to wire fraud
Victor Lee Farias targeted retired SAPD officers, other first responders, records show
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Victor Lee Farias shown in a previous mugshot from an arrest in an unrelated case. (KSAT)
SAN ANTONIO – The mastermind behind a Ponzi scheme that defrauded victims out of millions of dollars they believed were being invested in aviation engines pleaded guilty Wednesday to wire fraud in federal court in San Antonio, according to records from the case.
Victor Lee Farias, 47, entered his plea via video conference, after waiving his right to have the plea heard in person by a judge.