Federal Trade Commission (FTC)

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US v. Jeffrey Pearson and Stephen Schultz

Federal Trade Commission (FTC)

Most Recent Update 4/9/10 (See end of document)

U.S. v. Jeffrey Pearson and Stephen Schultz, No. 08-21044-CR (S.D. FL) 

Update 1/16/09:

ONovember 20, 2008, a federal grand jury in MiamiFlorida, returned a 20-count conspiracy, mail fraud, and wire fraud indictment against Jeffrey Alan Pearson and Stephen Douglas Schultz, two U.S. citizens living in Costa Rica.  The indictment alleges that from 2005 through 2008Pearson, Schultz, and others conspired to sell fraudulent business opportunities to U.S. citizens.  Pearson was arrested in Costa Rica on December 9, 2008.  Schultz was arrested in Costa Rica on December 12, 2008.  The United States is requesting the extradition of both defendants.  For additional information, see the Department of Justice Press Releases dated December 10, 2008 and December 12, 2008.

Charges in an indictment are only allegations, and the defendants are presumed innocent unless and until proven guilty.

On January 13, 2009, a federal grand jury in Miami returned a 20-count superseding indictment against Pearson and Schultz.  The superseding indictment alleges largely the same charges against Pearson and Schultz.

Update 3/26/09:

No change in status.

Update 12/14/09:

On December 3, 2009, Schultz was extradited from Costa Rica to the United States.  On December 4, 2009, Schultz had his initial appearance in federal court in Miami, Florida.  Schultz is currently being held in federal custody.  On December 18, 2009, Schultz is scheduled to be arraigned in federal court, and a pretrial detention hearing will be held.   

Update 1/25/10:

On January 21, 2010, Stephen Schultz entered a guilty plea in Miami Federal District Court to 12 counts of the  Superseding Indictment pending against him, including one count of conspiracy to commit mail and wire fraud, eight counts of mail fraud, and three counts of wire fraud.  Stephen Schultz’s sentencing is scheduled for April 1, 2010.
For additional information, see the Department of Justice Press Release dated January 22, 2010.

Update 4/9/10:

On April 7, 2010, Stephen Schultz was sentenced by United States District Court Judge Paul C. Huck in Miami to a term of 86 months in prison and a term of five years of supervised release. A hearing to determine the amount of restitution owed by Schultz will be scheduled within 90 days.  For additional information, see the Department of Justice Press Release dated April 7, 2010.



Updated October 20, 2014