United States Attorney Benjamin B. Wagner
Eastern District of California
|FOR IMMEDIATE RELEASE||
Friday, May 10, 2013
Docket #: 2:12-cr-192-GEB
SACRAMENTO, Calif. — United States District Judge Garland E. Burrell Jr. sentenced Jed Baron, 55, of Las Vegas, today to five years and three months in prison for wire fraud related to an investment scheme in which Baron defrauded an investor of more than $2.9 million, United States Attorney Benjamin B. Wagner announced.
According to court documents, Baron made a series of false business proposals to a victim in the Lake Tahoe area. Baron proposed that the victim invest in a venture to sell Irish seafood to restaurants in Las Vegas. Rather than using the victim’s money for the intended purpose, Baron diverted funds to his own personal use and to pay other investors from previous deals. Baron forged a series of invoices and other documents to persuade the victim that the investment was legitimate. Baron also convinced the victim to invest in other false ventures, including investments in motion pictures and luxury automobiles. The victim did not know that Baron had a prior felony conviction for fraud.
This case was the product of an investigation by the Federal Bureau of Investigation. Assistant United States Attorney Paul Hemesath prosecuted the case.