Prison Jail

Maryland fraudster sentenced to more than 9 years in prison for his role in $28 million ‘1st Million Dollars’ Ponzi scheme

Posted on by Chris Montcalmo

GREENBELT, MD—A Maryland man has been sentenced to prison for his role in a massive Ponzi scheme. U.S. District Judge Theodore D. Chuang has sentenced John Erasmus Frimpong, 42, of Upper Marlboro, to 114 months in federal prison, followed by three years of supervised release, for conspiracy to commit wire fraud, conspiracy to commit securities fraud, and securities fraud, in […]

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Prison Jail

Maryland man sentenced to more than six years in prison for his role in $28 million Ponzi scheme

Posted on by Chris Montcalmo

GREENBELT, MD—A Maryland man has been sentenced to more than six years in federal prison for his role in a $28 million Ponzi scheme involving “1st Million Dollars” wealth management company. U.S. District Judge Theodore D. Chuang sentenced Arley Ray Johnson, 63, of Bowie, to 78 months in federal prison, followed by three years of supervised release, for conspiracy, wire […]

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Gavel Scales Justice Crime

Baltimore father, son convicted of theft after running Ponzi-like investment scheme

Posted on by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Brian E. Frosh on Monday announced the convictions of Eugene Fusting, 79, and Christopher Ian Fusting, 52, of Baltimore relating to their operation of a Ponzi-like investment scheme between 2012 and 2019. Eugene and Christopher Fusting were found guilty of Theft Scheme Over $100,000 and Conspiracy to Commit Theft Scheme Over $100,000 after pleading guilty in […]

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Gavel Scales Justice Crime

Maryland man convicted for his role in $28 million Ponzi scheme

Posted on by Chris Montcalmo

GREENBELT, MD—A federal jury in Maryland has convicted Arley Ray Johnson, 63, of Bowie, on charges of conspiracy, wire fraud, and securities fraud, in connection with a $28 million Ponzi scheme involving 1st Million, a purported wealth management and financial literacy company. Johnson was convicted after a 10-day trial. The conviction was announced by United States Attorney for the District […]

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Judge Gavel Courtroom

Towson Ponzi scheme promoter sentenced to 22 years in federal prison

Posted on by Chris Montcalmo

TOWSON, MD—U.S. District Judge Richard D. Bennett on Thursday sentenced Kevin B. Merrill, 54, of Towson, to 22 years in federal prison, followed by three years of supervised release, for conspiracy and wire fraud arising from a $396 million investment fraud scheme that operated from 2013 through September 2018, with an additional $260 million in attempted investments at the time […]

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