Source: US FBI
AUSTIN, Texas – A Leander man was sentenced in an Austin federal court on Friday to 37 months in prison for wire fraud resulting in the loss of approximately $1 million.
According to court documents, Nicholas Keith Bonneville, 25, convinced his victims that he was a successful foreign exchange trader who would use his own funds to match clients’ investments, dollar-for-dollar, up to $100,000 to help their portfolios grow faster. The FBI’s investigation resulted in the identification of more than 100 victims. In one instance, Bonneville falsely claimed to have turned an investment of $50,000 into $1 million—an approximate 2,000% return on investment—in less than a year through foreign exchange trading.
A review of Bonneville’s bank records confirmed that Bonneville used the money from his victims to pay personal expenses and repay other victims. Bonneville did not engage in foreign exchange trading as he had promised.
Bonneville was arrested in February and charged with one count of wire fraud. He pleaded guilty to the charge on May 15. In addition to the over three years imprisonment, U.S. District Judge Robert Pitman ordered Bonneville to pay $575,450.30 in restitution.
U.S. Attorney Justin R. Simmons for the Western District of Texas made the announcement.
The FBI investigated the case.
Assistant U.S. Attorney Matt Harding prosecuted the case.
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