Jorge Salazar, Wire Fraud, Pennsylvania 2014

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Georgia Man Sentenced to 14 Years for Wire Fraud Scheme

Harrisburg, PA – Jorge Salazar, a 58-year-old man from Georgia, has been sentenced to 175 months (14 years and six months) in federal prison for his role in a massive wire fraud scheme that targeted investors in Adams County, Pennsylvania.

According to the United States Attorney’s Office for the Middle District of Pennsylvania, Salazar carried out the scheme from 2012 to 2014, during which time he falsely represented himself as a lawyer and investor from Atlanta, Georgia. He promised investors that they could invest up to $49,999 in his company and would receive a return of up to three times their investment within six months.

Approximately 19 people invested a total of $360,000 with Salazar, but once he received the funds, he fled to Kentucky where he was arrested. The investigation revealed that Salazar spent a significant percentage of the fraud proceeds on unnecessary items, including an RV and a home in Kentucky.

Salazar was indicted by a grand jury in Harrisburg in November 2014, following an investigation by the Federal Bureau of Investigation, the Internal Revenue Service, Criminal Investigations, and the Pennsylvania State Police. The case was prosecuted by Assistant United States Attorney Joseph J. Terz.

Salazar’s scheme was a classic example of a ‘Ponzi’ scheme, in which early investors are paid returns from funds contributed by later investors, rather than from profit earned. This type of scheme is unsustainable and inevitably collapses when there are not enough new investors to support it.

The sentence handed down to Salazar is a significant blow to those who would seek to take advantage of innocent investors through such schemes. It is a reminder that the federal government will aggressively pursue those who engage in white-collar crime and bring them to justice.

The case is a testament to the hard work and dedication of the investigators and prosecutors who worked tirelessly to bring Salazar to justice. It is also a reminder that investors must be vigilant and do their homework before investing in any scheme or company.