A Cedar Park man, Daniel Vincent Attridge, 48, was arrested Thursday on charges related to an alleged wire fraud scheme. Court documents state that Attridge is accused of defrauding multiple individuals from 2018 through September 2023 by convincing them to lend him money under false pretenses.
The indictment alleges that Attridge told investors he would use their funds to trade commodities such as petroleum, precious metals, and cryptocurrencies through his company, Nilsatis, Inc., promising high interest rates based on expected trading profits. Several loan agreements are cited, including a $150,000 loan with 3% monthly interest, a $20,000 loan with 9.1% interest over six weeks, and a $50,000 loan promising at least 25% interest from December 2022 to June 2023. Two other loans of $125,000 and $10,000 reportedly had 21% interest each.
The indictment claims that Attridge used only a small portion of the loan proceeds for actual trading, instead spending the majority on personal expenses or to repay other lenders, without disclosing these actions to investors.
Attridge faces five counts of wire fraud, each carrying a potential sentence of up to 20 years in prison. A federal district court judge will determine the sentence based on the U.S. Sentencing Guidelines and other factors.
The FBI San Antonio White Collar Crime Task Force is investigating the case, with Assistant U.S. Attorney Alan Buie prosecuting. U.S. Attorney Justin R. Simmons for the Western District of Texas announced the charges.
