Ex-Criminals Peachey and Winer Convicted for Fraudulent Money Laundering Scam

GRIMY TIMES – In a stunning blow to international financial crime, Nathan J. Peachey, 50, of Pennsylvania, and John Rick Winer, 67, of New Mexico, have been convicted by a federal jury in Sioux Falls, South Dakota. The duo masterminded a multi-million-dollar money laundering scheme, bilking investors under the guise of charitable contributions.

The trial, which lasted seven days before U.S. District Judge Karen E. Schreier, ended with guilty verdicts on November 23, 2021. Peachey was charged with Conspiracy to Commit Wire Fraud, Conspiracy to Launder Monetary Instruments, and nine counts of Laundering Monetary Instruments. Winer faced the same three conspiracy offenses plus four counts of Wire Fraud and five counts of Laundering Monetary Instruments.

Acting U.S. Attorney Dennis R. Holmes hailed the jury’s decision as a victory for justice. ‘The defendants lured victims into believing their money would be invested to better humanity, but instead, they enriched themselves at the expense of innocent people,’ Holmes stated. ‘Our office and its law enforcement partners will continue to combat such criminals with every available tool.’

IRS Criminal Investigation Special Agent in Charge Tyler Hatcher emphasized the commitment to track down and bring to justice those who exploit victims for personal gain. The FBI’s Michael Paul echoed this sentiment, emphasizing the resolve to hold scammers accountable regardless of their targets or methods.

The evidence presented during the trial revealed that Peachey operated from both Pennsylvania and Norway, soliciting millions in investments while laundering funds through domestic and international bank accounts. Winer, based in New Mexico, was involved in recruiting investors for various fraudulent projects.

Both men face a maximum penalty of 20 years in prison, a $250,000 fine, or both, as well as three years of supervised release, a special assessment to the Federal Crime Victims Fund, restitution, and forfeiture of their ill-gotten gains.