A 40-year old man was arrested in California Friday after allegedly using a fake name and accent as part of a conspiracy to take more than $2.5 million from victims who believed they invested in a bank in Switzerland and other ventures.
The alleged swindlers only returned about $163,000, some of which was derived from the payments of other victim- investors, according to the U.S. Department of Justice.
Starting in July 2015, Patterson, aka Xavier Carter, used fictitious businesses called Hawaiian Crush, Inc., Aloha Aina, Ltd., Securities and Trust of Switzerland AG, aka FSTS, Red Rock Equity Group and Advance Development Group and bank accounts in Hawaii, Minnesota and South Dakota to anchor the scheme. Patterson used the name Xavier Carter, and a fake accent, to conceal his “prior criminal history involving investment fraud,” according to an Aug. 19 indictment unsealed last week.
Patterson was arrested on Feb. 11 in California. Dashawn Hill, 46, and Judy Ramos, 52, all former residents of Hawaii, were charged with Conspiracy and Wire Fraud, and Patterson and Ramos also were charged with money laundering, according to a news release from the U.S. Attorney’s office.
“Those who take money from investors by promising great returns in a short amount of time, with little or no attempt to generate such returns, should face serious consequences for their actions,” said U.S. Attorney for the District of Hawaii Clare E. Connors.
At no point were Patterson, Hill or Ramos…
