A California man has been sentenced to 13 years in federal prison for his role in a multi-million dollar fraud scheme in Kentucky that defrauded over 200 investors nationwide of more than $3,000,000.
Henry Irving Ramer, 76, was sentenced by U.S. District Judge Gregory Van Tatenhove yesterday for mail fraud, securities fraud, and conspiracy to launder money. Under federal law, Ramer must serve at least 85 percent of his prison sentence.
Upon his release, he will be under the supervision of the U.S. Probation Office for 3 additional years.
Ramer was convicted by a jury in May of this year. According to the evidence at trial, Ramer and others raised money from investors by making misrepresentations and failing to disclose material facts about the oil well investments in Barren, Monroe, and Cumberland Counties.
Ramer’s role was as a salesman and manager of two Los Angeles-based telemarketing sales operations. In 2013 and 2014, he and his team cold-called potential investors around the country and fraudulently convinced many of them to invest. Ramer also created false offering memorandums and a promotional video. Every one of the investors lost all or nearly all of their investment.
The investigation into the scheme began when investors submitted complaints to the Kentucky Department of Financial Institutions, Division of Securities. The investigation was conducted by the U.S. Postal Inspection Service, including Postal Inspector Roberta Bottoms, and the Kentucky Department of Financial Institutions, Division of Securities.
Assistant U.S. Attorneys Ken Taylor and Neeraj Gupta prosecuted these cases on behalf of the federal government.
Defendant:
Henry Irving Ramer
Criminal Charges:
Mail fraud, securities fraud, and conspiracy to launder money
City and State:
Frankfort, Kentucky
Date:
Yesterday ( FRANKFORT – )
Sentence:
13 years in federal prison, with a minimum of 85 percent to be served
Dollar Amount:
$3,000,000
Related Federal Cases
- Henry Irving Ramer, Mail and Securities Fraud, Kentucky 2024 · California
- Folayemi Alabi, Conspiracy to Commit Wire and Mail Fraud, Money Laundering, Rhode Island 2022 · Kentucky
- Ion Trifu, Conspiracy to Use Counterfeit Access Devices and Money Laundering Conspiracy, Massachusetts 2018 · North Carolina
- Jason Borden, Conspiracy to Distribute Crystal Methamphetamine, Kentucky 2015 · California
- Jennifer Adams, Healthcare Fraud and Drug Conspiracy, Virginia 2024 · Colorado
Key Facts
- State: Kentucky
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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