Las Vegas lawyer Matthew Wade Beasley was accused on federal charges last week for allegedly orchestrating a $460 million Ponzi scam in Nevada, Utah, California, and Arizona.
Nearly a year ago today, Matthew Wade Beasley, a personal injury lawyer, was shot and wounded by FBI agents at his $1.1 million home in Las Vegas, sparking a four-hour standoff that ended with his arrest.
New charges have been filed against Las Vegas lawyer Matthew Wade Beasley who is accused of running a multimillion-dollar Ponzi scheme. This is a representation photo of a court room. (Photo by Jackie Hope on Unsplash)
Reno Gazette Journal said he faced an eight-count indictment accusing him of wire fraud and money laundering after that incident. He was also accused of assaulting a federal agent.
The federal government has detained Matthew Wade Beasley since the standoff, during which, according to the prosecution, the lawyer, who was 49 at the time, “repeatedly confessed” to his participation in the investment scam while speaking with a negotiator. Beasley stayed inside the home until FBI SWAT personnel arrived.
Las Vegas Lawyer Matthew Wade Beasley Faces Indictment
KTNV, citing records from a grand jury that were made public on Wednesday, reported that Matthew Wade Beasley is accused of five charges of wire fraud and three counts of money laundering.
The federal government has detained Beasley since the standoff, during which, according to the prosecution, the lawyer, who was 49 at the time, “repeatedly confessed” to his participation in the investment scam while speaking with a negotiator. Beasley stayed inside the home until FBI SWAT personnel arrived.
Beasley’s attorney, Jacqueline Tirinnanzi, refused to comment. Beasley hasn’t officially admitted guilt in the matter.
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How Beasley Got Into Indictment
The indictment mentioned per Fox10Phoenix that Beasley recruited investors for a business that advertised itself as providing customers who were awaiting money after resolving their personal injury “slip-and-fall” cases with short-term loans with exorbitant interest rates. Officials claim that after 90 days of depositing their money, investors were promised a return of up to 13%.
Prosecutors said there were no clients, nevertheless. However, the indictment claims that Beasley utilized funds from new investors to reimburse those of his previous investors, giving the impression that the business had actual customers who were paying back the loans with interest.
Beasley’s court appearance is set for Friday afternoon in the United States. judicial district in Las Vegas. A preliminary hearing in the assault case connected to the standoff from the previous year is also planned for this Friday, according to court documents, although Beasley and the prosecution are now in the midst of discussions.
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