Texas resident sentenced for role in crypto-Ponzi scheme

Editor's Note:
This matter occurred on date indicated, but not published at that time due to government shutdown. Press release posted and made available following the return to normal operations.   

HOUSTON – A 45-year-old Houston man ordered to federal prison for running a fraudulent investment scheme, announced U.S. Attorney Nicholas J. Ganjei. 

Samuel Ayala-Ibarra pleaded guilty Aug. 4.

Senior U.S. District Judge Kenneth M. Hoyt has now ordered Ayala-Ibarra to serve 51 months in federal prison to be immediately followed by three years of supervised release. At the hearing, the court heard additional information describing the sophistication of his fraudulent scheme. This included creating a shell company, using multiple bank accounts and having investors sign meaningless contracts to offer legitimacy to the investments. The court also heard about Ayala-Ibarra’s prior and pending criminal charges along with his educational background. In handing down the sentence, the court noted this crime was designed for people with degrees, due to the complexity of the scheme.

From July through November 2017, Ayala-Ibarra operated JASTBITME, a Houston-based company that falsely promised high returns through cryptocurrency investments. Ayala-Ibarra told clients their money would be invested in cryptocurrency, but he instead used the funds for personal gain and to repay earlier investors. He also paid others to recruit new clients.  

Once clients invested, JASTBITME created fake documents to show fabricated growth and returns. Ayala-Ibarra used these false reports to persuade clients to reinvest. 

The scheme resulted in numerous victims who never received their original investments or promised returns. 

He has been and will remain in custody pending transfer to a Federal Bureau of Prisons facility to be determined in the near future. 

The Secret Service conducted the investigation. 

Assistant U.S. Attorneys Rodolfo Ramirez and Elizabeth Wyman prosecuted the case. AUSA Kristine Rollinson is handling seizure and forfeiture matters.