Investment fraud involves deceiving investors by promising high returns on investments while actually using the funds for personal expenses rather than the promised business venture; in this case, Brandon Croitz was charged with wire fraud and money laundering after allegedly defrauding three investors of $10.9 million since May 2023 by promising returns from a firearms device business while using the money for luxury cars and home upgrades.
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Oro Valley man charged with defrauding investors of $10.9MAdded:
And an Oro Valley man has been arrested and charged with wire fraud and money laundering after federal officials say he defrauded investors out of millions of dollars. Federal prosecutors say 40-year-old Brandon Croitz took about $10.9 million from three victims since May of 2023. Prosecutors go on to say Croitz allegedly promised high returns from a firearms device business, but instead used that money for personal expenses, including luxury cars and home upgrades. Anyone with information on the scheme or who may have fallen victim is encouraged to contact the FBI.
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