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Carlsbad man sentenced for defrauding investors in Ponzi scheme

A Carlsbad man who ran a Ponzi scheme that defrauded dozens of investors out of millions was sentenced Monday to more than seven years in federal prison. ....

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Carlsbad Man Sentenced Over 7 Years for Defrauding Investors, Ponzi Scheme

Richard Lee Ramirez was indicted by a grand jury in 2022 for taking money investors gave him for his company JMJ Capital Group and spending it on personal items such as "luxury cars, travel, potential real-estate transactions" and more. ....

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Carlsbad man sentenced to 7-plus years in prison for multi-million-dollar Ponzi scheme

Richard Lee Ramirez, who prosecutors say spent investor funds on luxury cars and travel, was ordered to pay nearly $5.5 million in restitution to the victims ....

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