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Press Release

Investment Advisor Sentenced To Federal Prison for Investment Fraud Scheme

For Immediate Release
U.S. Attorney's Office, Middle District of Tennessee
More Than 70 Investors Bilked Out Of Over $6.5 Million

Francisco Reynier Arias, Jr., 49, of Winter Park, Florida and formerly of Nashville, was sentenced today to 70 months in prison for operating an investment fraud scheme, which defrauded investors of over $6.5 million dollars, announced U.S. Attorney Donald Cochran of the Middle District of Tennessee.


Arias was indicted in 2011 and pleaded guilty in October 2015 to money laundering and wire fraud.  According to court documents and evidence presented at the sentencing hearing, Arias owned and operated Adieus, an investment company in Nashville, which purportedly specialized in foreign currency trading.  Arias lied to investors about his abilities as a foreign currency trader by claiming that he had a special insight into the market when in fact he did not.  He also lied to investors by claiming that he was a decorated war hero who helped capture Saddam Hussein.


Instead of investing client funds, Arias diverted funds for his own personal use, including paying down the mortgage on his home; paying a family member’s college tuition at Vanderbilt University; family trips, including a gambling trip to Las Vegas; landscaping for his house, including the construction of a swimming pool; and purchasing motorcycles to add to his motorcycle collection.  Arias continued his investment scheme by paying off some of the investors with subsequent investments.  This scheme caused some of the investors to lose their retirement accounts and life savings.  

In addition to the term of prison imposed, U.S. District Court Judge Marvin E. Aspen, ordered Arias to serve three years of supervised release and to pay $6,749,563.50 in restitution to the victims of the offense. 


This case was investigated by the FBI and the IRS-Criminal Investigation. Assistant United States Attorneys Ryan R. Raybould and Cecil W. VanDevender prosecuted the case.   


David Boling
Public Information Officer

Updated September 4, 2018

Elder Justice
Financial Fraud