A federal grand jury in Phoenix has returned a 19-count indictment against Anthonie Ruinard Jr., 39, of Chandler, Arizona, for wire fraud and transactional money laundering. The U.S. Attorney’s Office for the District of Arizona announced the indictment today, revealing that Ruinard allegedly defrauded at least 54 victims of over $5.6 million through a fraudulent investment scheme run under the name Legacy Investors Group Inc.
The indictment claims that Ruinard misrepresented himself as a successful investor worth over $470 million and promised victim-investors guaranteed monthly returns of 5% to 6% on investments in venture capital, private equity, and real estate. Although some early investors received initial payments, many others lost their entire investments.
Ruinard is accused of using the stolen funds for personal luxuries, including luxury vehicles—notably an armored car purchased for $344,000—casino gambling, credit card payments, and rental expenses.
Wire fraud carries a maximum penalty of 20 years in prison and a fine of up to $250,000, while transactional money laundering carries a penalty of up to 10 years in prison and a fine of the same amount. The FBI’s Phoenix Division led the investigation into this scheme.
Anyone who believes they were defrauded by Ruinard and has not yet contacted the FBI is urged to reach out at LegacyGroupVictims@fbi.gov.
Note: An indictment is not an indication of guilt; the defendant is presumed innocent until proven guilty in a court of law.