Sara Routhier, Managing Editor of Features and Outreach, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming worl...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jun 21, 2013

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Jonathan Gracia, of Middletown, Conn., has pled guilty to one count of wire fraud stemming from an investment scheme that victimized several investors. Court documents and statements revealed that Gracia had falsely portrayed himself as a website and iPhone app developer.

The FBI’s press release states that Gracia solicited investments and personal loans from investors to support his website and iPhone app businesses. In exchange for investments and personal loans, investors were told that they would receive sizable returns. However, Gracia ended up defrauding his victims of $200,000.

Gracia’s victims were deceived due to his use of fraudulent documents. He created fake checks, bank account statements, and letters using prominent hedge fund management company letterheads.

Tom Carson, Spokesman for the United States Department of Justice, told loans.org that Gracia was arrested in North Carolina and that Gracia will be paying restitution to his victims.

Carson shared the case’s complaint and plea agreement with loans.org, which showed that Gracia, a 24 year-old man, defrauded 4 victims in total.

Since his arrest on March 18, 2013, Gracia has been held in detainment. He will be sentenced on Sept. 10, 2013. He could be sentenced for a maximum term of 20 years in prison.

The ongoing investigation is being spearheaded by the Federal Bureau of Investigation in conjunction with the Police Departments from the cities of Branford and Stamford.

(Quotes from Mr. Carson obtained by Isaac Juarez)