Husband and Wife Sentenced To Prison in Investor Fraud Scheme
STATESBORO, GA: Karen K. Ransom, 45, from Atlanta, Georgia was sentenced earlier this week to a year and a day in federal prison by Chief U.S. District Court Chief Judge Lisa Godbey Wood for her role in an investor fraud scheme. Ransom’s husband, Joseph D. Garcia, 49, from Albuquerque, New Mexico, was sentenced last month to 37 months in prison for his role in the fraud scheme.
Evidence presented during the guilty plea and sentencing hearings revealed that Garcia and Ransom defrauded numerous victims throughout the United States of over a half of a million dollars. Many of the victims lived in the Statesboro area, within the Southern District of Georgia. Garcia and Ransom set up a phony investment firm called “Omega Capital Consultants” and fraudulently solicited hundreds of thousands of dollars from investors. Instead of investing the money they received from investors, Garcia and Ransom spent the money to fund a lavish lifestyle.
United States Attorney Edward J. Tarver said, “This couple stole hundreds of thousands of dollars from numerous unsuspecting victims. The Defendants’ promises turned to nightmares for their victims. The U.S. Attorney’s Office will not tolerate those who defraud others for their own greedy purposes.”
In addition to prison, Garcia and Ransom were also ordered to pay $635,000 in restitution. After serving their prison sentence, Garcia and Ransom will serve 3 years of supervised release.
FBI Special Agent Marcus Kirkland conducted the investigation which led to the indictment. Assistant United States Attorney Lamont A. Belk prosecuted the case on behalf of the United States. For additional information, please contact First Assistant United States Attorney James D. Durham at (912) 201-2547.