Daniel Christian Stanley Powell, Mail Fraud, California 2022

San Diego man Daniel Christian Stanley Powell, 33, convicted of five counts of mail fraud, five counts of wire fraud, and three counts of obstruction of justice for running a scam that promised ‘reverse life insurance’ policies, netting over $5 million from victims.

SANTA ANA, California – In a significant blow to the business world, Daniel Christian Stanley Powell, the founder and CEO of Christian Stanley, Inc., has been found guilty of federal fraud charges. Powell, a San Diego resident, was convicted of five counts of mail fraud, five counts of wire fraud, and three counts of obstruction of justice.

According to evidence presented at trial, Powell solicited over $5 million from victims who thought they were investing in ‘reverse life insurance’ policies. He claimed that the company would purchase life insurance policies from insured individuals, pay the monthly premiums, and become the beneficiaries.

Powell also told some victims that their money would be invested in gold mines, claiming that investments were safe because his company already owned $1.9 billion in reverse life insurance policies in a mutual fund. Contrary to his promises, however, the evidence demonstrated that Christian Stanley did not own any life insurance policies or any working mines and had earned only $31,250 in revenue since its inception.

In total, approximately 50 victims invested a total of approximately $5.2 million. The victims, located throughout the United States, invested directly through Powell, other representatives of Christian Stanley, or their own financial advisors. Victims lost approximately $4 million as a result of the scheme, which included funds that had been invested through individual retirement accounts.

Powell used victims’ money to make Ponzi-scheme payments to some investors, pay commissions to representatives who recruited investors, and create promotional materials that gave the appearance that Christian Stanley was a legitimate and successful business. Powell also spent victims’ funds on a luxury apartment on the west side of Los Angeles, Ferrari and Porsche automobiles, and a $35,000 donation to Usher’s New Look foundation, which got him a photograph with former President Bill Clinton that was used as part of Christian Stanley’s promotional materials.

Powell is scheduled to be sentenced by Judge Josephine L. Staton on March 13, 2015, at which time the defendant will face a statutory maximum sentence of 260 years in federal prison.

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