Regan Accused of $60M Ponzi Scheme, Investors Left Reeling

MANHATTAN – Paul Regan is facing the music after federal prosecutors unsealed an indictment charging him with conspiracy, securities fraud, and wire fraud in connection with a brazen $60 million Ponzi scheme. The scheme, operating through companies called Next Level Holdings (“Next Level”) and Yield Wealth Ltd. (“Yield”), allegedly fleeced over 300 retail investors, leaving them with losses exceeding $50 million. Regan, who pitched himself as a mining magnate, was apprehended in Southern Florida and extradited from Colombia before being ordered detained.

According to the indictment, Regan and his team of salesmen peddled false promises of guaranteed returns and protected investments between 2022 and 2024. The con revolved around claims that Next Level and Yield were providing capital to mining operations in Colombia, securing discounted precious metals and generating substantial profits. These claims were, investigators say, a complete fabrication, a smokescreen to hide the classic Ponzi scheme – using money from new investors to pay off earlier ones.

“As alleged, Paul Regan promised high returns but, in reality, he simply used money from new investors to pay off old investors, keeping the fraud going until pointed questions were asked,” stated U.S. Attorney Jay Clayton. “There is no place in our markets for scammers, particularly those who prey on Main Street investors. The women and men of the Southern District are committed to putting these scammers out of business permanently.” Regan allegedly targeted investors with “Next Level Holdings Principal & Interest Protected Guaranteed Note[s]” (the “Next Level Notes”), promising double-digit returns with *no* risk of loss. A minimum investment of $50,000 was required to get in on the action.

The FBI alleges the scheme was deliberately shrouded in deceit. “Paul Regan allegedly defrauded over 300 investors of more than $60 million through false promises of protected investments and guaranteed returns while using these deposits to quietly repay other entities,” said FBI Assistant Director in Charge Christopher G. Raia. “This alleged scheme was shrouded in deceit to entice hundreds of clients before ultimately betraying their confidence and their savings. The FBI will continue to investigate all widespread schemes exploiting the wallets of victims, regardless of where the defendant may be located.”

The indictment details how Regan positioned himself as Chief Executive Officer of Next Level, falsely claiming the company was actively involved in supporting Colombian mining operations. Marketing materials circulated to potential investors and a network of independent salespeople touted the supposed success of Next Level’s precious metals business, guaranteeing returns that were, in hindsight, too good to be true. When the scheme began to unravel, Regan simply shut down Next Level and Yield, leaving investors holding the bag.

The case is assigned to U.S. District Judge Valerie E. Caproni. If convicted, Regan faces significant prison time. This investigation remains ongoing, and authorities haven’t ruled out the possibility of additional charges or indictments against other individuals involved in the fraudulent operation. Grimy Times will continue to follow this case and report on any developments.

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