Francius Marganda Pleads Guilty to $23M Ponzi Scheme, Brooklyn NY, 2024

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Table of Contents

Defendant Admits to Stealing Millions from Fellow Countrymen and Indo-American Investors

In a shocking admission, Francius Marganda, an Indonesian national, pleaded guilty to securities fraud in connection with a $23 million Ponzi scheme that targeted his fellow countrymen and Indo-American investors, leaving hundreds of victims without their hard-earned funds.

According to court documents, Marganda’s scheme involved soliciting investments in two sham loan programs called Easy Transfer and Global Transfer, which he falsely represented as short-term, high-interest loan programs. However, the reality was far from it, as Marganda and his co-conspirators used the funds for luxury goods and real estate, rather than investing them as promised.

As part of his plea, Marganda admitted to laundering the proceeds of the securities fraud and agreed to forfeit more than $7.5 million that he misappropriated from investors. When sentenced, Marganda faces up to 20 years in prison.

U.S. Attorney Breon Peace expressed his gratitude to the Justice Department’s Office of International Affairs, law enforcement partners at the U.S. Embassy in Singapore, and Singaporean authorities for their assistance in Marganda’s arrest and extradition. He also thanked the Securities and Exchange Commission, the Internal Revenue Service Criminal Investigation, and other agencies for their help in the investigation.

HSI New York Special Agent in Charge Ivan J. Arvelo praised the cooperation between agencies and commended the Eastern District of New York, the FBI, and all law enforcement partners for their relentless pursuit of predators who prioritize their own selfish gain over the well-being of others.

As the investigation continues, authorities are urging potential victims who have not yet come forward to do so. The El Dorado Task Force is committed to leveraging its international footprint to protect the innocent public at home and abroad.

Marganda was extradited to the United States from Singapore in November 2023 and is set to be sentenced in the coming months. The guilty plea serves as a positive step toward justice for the victims of this global, years-long Ponzi scheme.

The case serves as a reminder of the importance of vigilance in preventing financial fraud and the need for law enforcement to work together to hold swindlers accountable for their crimes.