Casino.org reports
A Las Vegas attorney is headed to court on Friday after recent charges for allegedly operating a $460M Ponzi scheme.
Matthew Beasley, 50, was indicted by a federal grand jury on Wednesday on five counts of wire fraud and three counts of money laundering, the Las Vegas Review-Journal reported. If found guilty, Beasley could face many years in prison.
More than 600 people participated in the Las Vegas-based scheme involving Beasley’s Beasley Law Group. Beasley’s legal license was suspended after the allegations surfaced.
The plot targeted members of The Church of Jesus Christ of Latter-day Saints, better known as the Mormon Church.
Paid $4M in Gambling Debt
Beasley allegedly used some of the money to pay his gambling debts, which totaled $4M. Other money was used to fund his “opulent lifestyle,” according to court documents
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Las Vegas Lawyer Back in Court for $460M Ponzi Scheme Indictment
