⏱ 2 min read
Keinyatey Deboros Chambers, a 49-year-old Sacramento man, has been indicted for running a cannabis investment scheme that swindled over half a million dollars from victims he met at casinos, bars, and restaurants throughout California. Between December 2017 and March 2026, Chambers falsely claimed to be involved in the cannabis industry, promising investors high returns within days or weeks. Instead, he used the money to fund his personal life, spending it at casinos or paying associates.
Chambers’ scheme involved pressuring investors to put in more money and recruiting others to invest. He never actually invested the money as promised, instead using it for his own gain. The Federal Bureau of Investigation and California Department of Justice’s Bureau of Gambling Control conducted the investigation, which led to Chambers’ indictment on 10 counts of wire fraud.
If convicted, Chambers faces up to 20 years in prison and a $250,000 fine on each count. The case is being prosecuted by Assistant U.S. Attorney Jessica Delaney. The indictment is a significant blow to those who would seek to exploit the cannabis industry for personal gain.
The case serves as a warning to those who would invest in cannabis companies to do their due diligence and research the company thoroughly before investing. The FBI and other law enforcement agencies are urging anyone with information about the case or who believes they may be a victim to come forward.
📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: California
- Location: CA
- Source: DOJ Press Release
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