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Kansas Man Sentenced for $900,000 Ponzi Scheme
A Kansas man has been sentenced to 36 months in prison for his role in a $900,000 foreign currency Ponzi scheme.
Thomas Lanzana, 54, of Wichita, Kansas, was sentenced today in Newark federal court for wire fraud. He had previously pleaded guilty to the charges.
According to court documents, Lanzana solicited over $900,000 from at least 20 customers to invest in what he claimed were highly successful trading pools in foreign currency derivatives and other financial instruments.
Instead of investing the money, Lanzana used it to pay earlier investors, cover his own expenses, and fund his personal indulgences, including Amazon purchases and luxury car payments.
Lanzana’s scheme involved sending false account statements and tax documents to his victims, further deceiving them into thinking they were earning returns on their investments.
Acting U.S. Attorney Rachael Honig credited the FBI and IRS-Criminal Investigation for their role in the investigation, which led to Lanzana’s sentencing.
Assistant U.S. Attorney Anthony P. Torntore represented the government in the case.
Lanzana was also sentenced to three years of supervised release in addition to his prison term.
The U.S. Commodity Futures Trading Commission’s Division of Enforcement assisted in the investigation and prosecution of Lanzana’s scheme.
Key Facts
- State: New Jersey
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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