David Astin, Wire Fraud, South Dakota 2020

David Astin, 38, of Hermosa, South Dakota, is going to federal prison for running a calculated wire fraud scheme that bled an investor dry. Astin was sentenced on August 12, 2020, to 3 years in federal custody, followed by 3 years of supervised release, after being convicted on three counts of wire fraud. U.S. District Judge Jeffrey L. Viken handed down the sentence, which also includes a $300 special assessment and $433,877.06 in restitution.

The scam began in 2012, when Astin entered into an agreement to manage foreign exchange currency accounts for a local investor in exchange for compensation. He lied about his own track record, claiming he consistently earned eight percent monthly returns. He promised the investor returns of one to three percent per month—while knowing full well the accounts were hemorrhaging cash.

The investor made one thing clear: he would not tolerate significant losses. Astin knew his pay depended on performance. But instead of coming clean, he doubled down on deception. From August 2012 through August 2013, he fabricated account statements and spreadsheets that showed fake profits, convincing the victim his money was growing.

Those lies worked. The investor kept pouring in cash and paid Astin more than $75,000 in compensation. Meanwhile, Astin lost $433,877.06 of the investor’s money through reckless trading and outright fraud. The digital paper trail of doctored records collapsed under scrutiny, exposing the depth of the betrayal.

The case was cracked open by investigators from the Internal Revenue Service – Criminal Investigation and the Federal Bureau of Investigation. Assistant U.S. Attorney Benjamin Patterson led the prosecution, building a case that left no room for excuses. Evidence showed deliberate, repeated use of electronic communications to transmit false data—meeting the legal threshold for wire fraud.

After sentencing, Astin was immediately taken into custody by the U.S. Marshals Service. No delays. No walkouts. Just steel cuffs and a federal docket. His conviction stands as a warning: in the world of high-stakes finance, lies travel fast—but so does justice.

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