Bryant Edwin Sewall, 57, formerly of Little Elm, Texas, has been sentenced to 23 years in prison after being found guilty of 14 counts of wire fraud and one count of conspiracy to commit wire fraud. The conviction stems from his role in an elaborate investment fraud scheme alongside his co-conspirator, Michael Shawn Stewart, 61, of Scottsdale, Arizona. Stewart, also found guilty of the same charges, is scheduled for sentencing at a later date.
Sewall and Stewart operated companies under the names Mediatrix Capital and Blue Isle Markets, which conducted business across various Caribbean islands. They deceived investors by providing fraudulent claims about an algorithm-based foreign currency exchange (ForEx) trading program. They falsely represented that Mediatrix had a history of successful trading since 2013, even though the company did not exist until 2014, and its trading record was marked by significant losses.
The duo promised investors “100% Transparency,” “100% Liquidity,” and “World-Class Returns,” but after luring them in, they manipulated account statements to conceal massive losses. By the end of the scheme, they had promised investors more than $179 million in returns, but only $9.8 million was actually in their accounts.
Despite suffering around $32 million in trading losses, Sewall and Stewart collected approximately $28 million in performance fees and fraudulently converted over $45 million in markup fees through their brokerage, Blue Isle. They used the stolen funds to finance a lavish lifestyle, spending it on real estate, boats, cars, jewelry, and more.
Sewall was ordered to pay around $93 million in restitution to the defrauded investors. This sentence serves as a stark reminder of the consequences of financial fraud and the importance of protecting investors from deceptive schemes.
