BAY AREA FRAUDSTER SENTENCED TO 30 MONTHS IN PRISON FOR DUPING INVESTORS OUT OF MORE THAN $3 MILLION
SAN FRANCISCO – Marc Christopher Harmon, 44, formerly of San Leandro, Calif., was sentenced today to 30 months in prison for his role in a conspiracy to commit wire fraud and wire fraud, announced United States Attorney Brian J. Stretch, Federal Bureau of Investigation Special Agent in Charge John F. Bennett, and Internal Revenue Service, Criminal Investigation, Special Agent in Charge Michael T. Batdorf.
The sentence was handed down by the Honorable Richard Seeborg, U.S. District Judge, after Harmon was tried and found guilty by a federal jury.
Harmon, 44, was charged in an indictment filed July 3, 2014, along with co-conspirator Jason George Rivera, Jr., 38, of Danville, Calif., in a scheme to defraud multiple investors of more than $3 million.
The evidence at trial demonstrated that between October 2008 and January 2011, Harmon and Rivera used a Nevada corporation known as Executive Members Management Group, or EMMG, as a vehicle to defraud investors.
The scheme involved promises that EMMG would purchase or trade collateralized mortgage obligations (CMOs) using funds provided by the investors, or would invest their funds in other lucrative transactions.
Rivera and Harmon convinced victims to invest substantial sums of money, by promising, among other things, high rates of returns by participating in exclusive trading markets overseas and funding short-term loans for banks.
The evidence at trial demonstrated Harmon’s role included recruiting investors to EMMG and making many false representations to induce the investors to contribute to non-existent investment programs.
Harmon is in custody and will begin serving his sentence immediately.
In addition to the prison sentence, Judge Seeborg sentenced Harmon to three years of supervised release and $1,837,500 in restitution.
Rivera was sentenced on February 8, 2017, to 33 months of imprisonment, three years of supervised release, and $2,045,207 in restitution.
Related Federal Cases
- Christopher Glynn, Wire Fraud, New Jersey 2019 · California
- Gabriel Martin Reed, Wire Fraud, California 2023 · Nevada
- Sean Christopher Sladek, Investment Fraud Scheme, Nevada 2024 · Washington
- Ramesh Kris Nathan, Wire Fraud, Nevada 2019 · California
- Edward Martin Rostohar, Bank Fraud, California 2024 · California
Key Facts
- State: California
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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