Arthur Schlecht, Precious Metals Investment Scheme, Florida 2014

In a shocking turn of events, Arthur John Schlecht, a 54-year-old former Miami-Dade County resident, has been sentenced to 120 months in prison for his role in a precious metals investment scheme that duped over 700 investors out of more than $25 million.

The scheme, which was perpetrated by Schlecht and his co-defendants, targeted unsuspecting investors who were lured into investing in precious metals such as gold and silver. However, instead of investing in actual precious metals, the defendants used the funds for their own personal gain.

Schlecht was convicted on February 27, 2014, following a five-week jury trial in Miami. His co-defendants, Carlos Rodriguez, age 37, Ricardo Padron, age 54, and Robert Roca, age 62, were also sentenced to prison time for their roles in the scheme.

Carlos Rodriguez was sentenced to 45 months in prison, while Ricardo Padron and Robert Roca received 45 and 36 months, respectively. The evidence presented at trial revealed that the defendants’ scheme caused significant financial harm to their victims, resulting in a total loss of over $25 million.

The investigation into the scheme was led by the FBI, USPIS, the Florida Office of Financial Regulation, and the Commodity Futures Trading Commission. The case was prosecuted by Senior Litigation Counsel Caroline Heck Miller and Assistant U.S. Attorney Michael R. Sherwin.

As a result of the scheme, over 700 investors lost significant amounts of money, with some losing their life savings. The sentencing of Schlecht and his co-defendants serves as a reminder of the importance of conducting thorough research and due diligence before investing in any scheme or opportunity.

The case is a testament to the dedication and hard work of law enforcement agencies in bringing perpetrators of financial crimes to justice. It also serves as a warning to would-be scammers and con artists that their actions will be met with severe consequences.

In a statement, Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, commended the investigative efforts of the agencies involved in the case. He noted that the sentencing of Schlecht and his co-defendants sends a strong message that financial crimes will not be tolerated.

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