KANSAS CITY, KAN. – Alcides Roman, 66, of Lebanon, Tennessee, is headed to federal prison after being sentenced to 71 months for operating a brazen $1.9 million Ponzi scheme. The sentence, handed down today, marks the culmination of a case that exposed a callous disregard for the financial well-being of victims across the United States and Canada.
Roman pleaded guilty to one count of wire fraud, admitting to soliciting investments from individuals in Kansas, New York, Texas, and Canada under the false pretense of high-yield programs. These weren’t investments at all; they were a carefully constructed illusion. Court documents reveal Roman never actually invested the funds, instead pocketing the money or diverting it for personal gain.
The scheme operated by robbing Peter to pay Paul. When victims requested redemption of their investments, Roman didn’t fulfill the requests. Instead, he used new investor funds – or even portions of existing investors’ principal – to create the appearance of returns, enticing victims to pour in even more money. This classic Ponzi structure ultimately collapsed, leaving a trail of financial ruin.
The FBI investigation uncovered a disturbing pattern of abuse. Roman didn’t just line his own pockets; he used the stolen funds to finance a lavish lifestyle. The $1,977,857 in total losses documented by investigators was spent on personal living expenses, vehicles, land purchases, and even transfers to various companies, both foreign and domestic. It was a systematic looting of hardworking individuals.
Assistant U.S. Attorney Ryan J. Huschka, who prosecuted the case, presented compelling evidence of Roman’s deliberate deception and the devastating impact on his victims. The 71-month sentence sends a clear message that such predatory behavior will not be tolerated. The Federal Bureau of Investigation (FBI) handled the investigation, painstakingly unraveling the complex web of financial transactions to expose the fraud.
While a prison sentence offers some measure of justice, the victims of this scheme will likely grapple with the financial consequences for years to come. Roman’s actions serve as a stark reminder of the vulnerability of investors and the importance of due diligence. Grimy Times will continue to follow this case and report on any potential asset recovery efforts to provide restitution to those harmed by Roman’s greed.
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Key Facts
- State: Kansas
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source ↗
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