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Thu Jun 13, 2019, 03:54 AM

Ex-Financial Advisor with History of Professional Misconduct Arrested on Fraud Charges Alleging

Ex-Financial Advisor with History of Professional Misconduct Arrested on Fraud Charges Alleging $14.5 Million Real Estate Scheme


RIVERSIDE, California A former financial advisor with a lengthy disciplinary history was arrested today pursuant to a federal grand jury indictment charging him with running a $14.5 million real estate fraud scheme by inducing victims to invest in his businesses and then using their money for personal expenses, including the down payment on a home in Upland.

Paul Ricky Mata, 56, a former resident of Upland who now lives in Oceanside, is scheduled to be arraigned on the indictment this afternoon in United States District Court in Riverside.

Mata is named in a 17-count indictment that was returned by a federal grand jury on June 5. The indictment charges Mata with mail fraud, wire fraud, and making false statements in a bankruptcy proceeding, among other offenses. If convicted of all 17 counts, he would face a statutory maximum sentence of 295 years in federal prison.

According to the indictment, from August 2008 to September 2015, Mata caused victims to invest in several of his businesses, including Secured Capital, Logos Real Estate and other ventures. Mata failed to disclose his disciplinary history to his victims, including his 2009 termination from Ameriprise Financial Services, Inc. for violating company policies, the indictment alleges. Mata also allegedly failed to disclose other disciplinary actions against him, including ones filed by the states of Nevada and California, and a one-year suspension and $10,000 fine imposed by the Financial Industry Regulatory Authority stemming as a result of his Ameriprise misconduct.

Read more: https://www.justice.gov/usao-cdca/pr/ex-financial-advisor-history-professional-misconduct-arrested-fraud-charges-alleging

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Reply Ex-Financial Advisor with History of Professional Misconduct Arrested on Fraud Charges Alleging (Original post)
TexasTowelie Thursday OP
sandensea Thursday #1
rampartc Thursday #2

Response to TexasTowelie (Original post)

Thu Jun 13, 2019, 03:57 AM

1. He can always run for the GOPee nomination.

Always a future there for people like him.

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Response to TexasTowelie (Original post)

Thu Jun 13, 2019, 05:13 AM

2. the money must flow so easily for these frauds that they can never do honest work.

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