Second Man Sentenced To Prison In Investment Fraud Case

SAN FRANCISCO, CA — A San Leandro man was sentenced to two years and six months in prison on Wednesday for his role in a scheme to defraud investors out of more than $3 million, according to the U.S. Department of Justice.

A federal jury in San Francisco found Marc Christopher Harmon, 44, guilty of six counts of wire fraud and one count of conspiracy to commit wire fraud on May 11, 2016. Also, Harmon pleaded guilty to one fraud count following his trial, according to federal prosecutors. In addition to his prison sentence, Harmon was ordered to serve three years of supervised release and to pay more than $1.8 million in
restitution by U.S. District Judge Richard Seeborg.

Prosecutors claim that Harmon and his partner, Jason George Rivera, Jr., 38, of Danville, conspired to defraud multiple investors out of more than $3 million between October 2008 and January 2011.

Using a company known as Executive Members Management Group, the pair convinced investors that they would earn high rates of returns on trade collateralized mortgage obligations and other types of transactions,
according to prosecutors.

Harmon recruited investors by "making many false representations to induce the investors to contribute to non-existent investment programs," U.S. Attorney's Office officials said in a written statement Wednesday.
Rivera pleaded guilty to one count of conspiracy to commit wire fraud and two counts of tax evasion, according to prosecutors, and was sentenced on Feb. 8 to 33 months in prison. He was also ordered to pay more than $2 million in restitution.

By Bay City News

Photo via Shutterstock