Cedar Park Man Arrested, Charged with Defrauding Investors

AUSTIN, Texas – A Cedar Park man was arrested Thursday on criminal charges related to his alleged wire fraud.

According to court documents, from no later than 2018 through September 2023, Daniel Vincent Attridge, 48, allegedly defrauded multiple individuals whom he convinced to lend him money. An indictment filed earlier this week alleges that Attridge told the individuals that he traded commodities such as petroleum, precious metals and cryptocurrencies through his company called Nilsatis, Inc.  He allegedly told them that, if they lent him money, he would use the funds to trade said commodities and that he could pay interest on the funds at relatively high rates due to the profits he would earn from trading.

The indictment alleges that Attridge entered into loan agreements with the individuals, some of which listed Nilsatis, Inc. as the borrower and others which listed Attridge named himself as the borrower. In one agreement, Nilsatis, Inc. allegedly agreed to repay a loan of $150,000 plus 3% monthly interest or at an interest rate “reflective of trade performance” after 24 months. In another agreement, Nilsatis, Inc. allegedly agreed to pay 9.1% interest for a six-week period on a $20,000 loan. Attridge allegedly agreed to pay interest of at least 25% on a $50,000 loan for the period of Dec. 5, 2022 to June 1, 2023. And in two other agreements, Nilsatis, Inc. and Attridge allegedly agreed to repay loans of $125,000 and $10,000 with 21% interest each.

The indictment alleges that Attridge used only a small fraction of the loan proceeds to trade commodities and used the majority to pay personal living expenses or to pay principal and interest to lenders, failing to disclose that he had spent and would spend most of their money in way that did not generate profits.

Attridge is charged with five counts of wire fraud. If convicted, he faces up to 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

U.S. Attorney Justin R. Simmons for the Western District of Texas made the announcement.

The FBI San Antonio White Collar Crime Task Force is investigating the case.

Assistant U.S. Attorney Alan Buie is prosecuting the case.

If you or someone you know has been a victim of a scam or fraud scheme, report it to ic3.gov, the FBI's Internet Crime Complaint Center (IC3).

An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

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