Jane Doe, Commodity Scheme Scam, Loma Linda CA, 2023

Loma Linda, CA – Sharief Deona McDowell, 58, is facing over five years behind bars after admitting to running a brazen commodities fraud that left at least 28 investors nearly $2.7 million poorer. McDowell didn’t invest a dime of their money as promised; she simply pocketed it, spinning a web of lies to keep the scam afloat. Federal prosecutors revealed the scheme ran from October 2018 to March 2022, preying on individuals both in the US and abroad.

McDowell operated under the guise of “Presidential Investments Inc. LLC,” a company the feds say was nothing more than a shell designed to funnel stolen funds. She convinced investors she was a savvy trader, promising returns through commodity futures and options contracts. Instead, she used the money for personal expenses, fabricating account statements and trade confirmations to maintain the illusion of profitability. This wasn’t a spur-of-the-moment decision; authorities say McDowell had a history of deceptive behavior, having violated a prior court order in 2011.

The victims weren’t limited to American citizens. The investigation, spearheaded by the FBI, uncovered losses suffered by investors in Canada and Poland, highlighting the international reach of McDowell’s deceit. The total amount swindled from these victims adds up to a staggering $2,678,768. For years, she operated with impunity, building a false empire on the backs of trusting individuals who believed they were building their financial futures.

Federal prosecutors argued McDowell’s actions were deliberate and calculated, not simply a case of bad business. They presented evidence showing she actively concealed her fraud, creating layers of deception to avoid detection. The violation of the 2011 court order – a prohibition on fraudulent conduct – further underscored a pattern of dishonesty, solidifying the case against her. The feds didn’t mince words, painting McDowell as a predator who exploited the trust of vulnerable investors for personal gain.

McDowell pleaded guilty to one count of wire fraud in December 2022, finally admitting to the scheme. This plea likely saved her from facing multiple charges, but it wasn’t enough to avoid a substantial prison sentence. Yesterday, she received 63 months in federal prison – over five years – and was ordered to pay $2,446,093 in restitution to her victims. While restitution offers some measure of relief, it’s unlikely to fully recover the financial and emotional damage inflicted by McDowell’s greed.

Assistant United States Attorneys and FBI agents worked tirelessly on this case, meticulously unraveling McDowell’s complex scheme. The investigation serves as a stark reminder of the dangers of investment fraud and the importance of due diligence. The feds are sending a clear message: those who prey on investors will be held accountable, no matter how sophisticated their schemes may be. This case underscores the need for constant vigilance in a world where financial predators are always lurking.

The 63-month sentence isn’t just about punishing McDowell; it’s about sending a message to others considering similar schemes. The feds are determined to protect investors from fraudulent schemes and will aggressively prosecute those who attempt to profit from deception. For the victims of McDowell’s scheme, the sentence provides a small measure of closure, but the financial scars will likely remain for years to come.

The investigation remains ongoing, and the feds are exploring the possibility of additional charges or co-conspirators. Anyone with information regarding McDowell’s activities is urged to contact the FBI. This case highlights the importance of reporting suspected fraud to authorities, as early intervention can prevent further losses and bring perpetrators to justice.