Chandler, Arizona, December 13, 2025
A Chandler man, Anthonie Ruinard, Jr., faces serious charges of wire fraud and money laundering after allegedly deceiving over 54 investors out of $5.6 million through a fake investment company. Ruinard promised high returns but is accused of using the funds for personal luxuries. He also is linked to a homicide investigation, raising questions about his activities. The case underscores the risks of investment fraud as officials tighten their efforts to combat such schemes.
Chandler Man Faces Prison Over $5.6 Million Fraud Scheme
Chandler, Arizona – A Chandler man has been indicted on charges of wire fraud and transactional money laundering for allegedly defrauding at least 54 individuals out of over $5.6 million through a fraudulent investment scheme.
Details of the Fraud Scheme
According to the indictment, Anthonie Ruinard, Jr., 39, operated a fake business named Legacy Investors Group Inc., presenting himself as a successful investor with a net worth exceeding $470 million. He promised investors guaranteed returns of approximately 5% to 6% per month through ventures in capital, private equity, and real estate investments. While some investors received payments, others lost their entire investments. Ruinard, Jr. is accused of using the funds for personal expenses, including living costs, rental payments, casino gambling, credit card bills, and purchasing an armored vehicle valued at $344,000. If convicted, he faces up to 30 years in prison for the two charges.
Background on the Defendant
Ruinard, Jr. is also the primary suspect in the 2023 death of 18-year-old Parker League, whose dismembered and burned body was found in a debris pile near Apache Junction. The investigation into League’s death is ongoing, and authorities have not disclosed further details regarding the connection between the fraud scheme and the homicide.
Legal Proceedings
The indictment was unsealed on November 27, 2024, and Ruinard, Jr. was arrested shortly thereafter. He is currently awaiting trial in federal court. The case highlights the ongoing efforts by federal authorities to combat investment fraud schemes that exploit individuals seeking financial growth.
Impact on the Community
This case serves as a stark reminder of the importance of conducting thorough due diligence before investing substantial sums of money. Individuals are encouraged to verify the legitimacy of investment opportunities and to be cautious of promises of high returns with minimal risk.
Frequently Asked Questions (FAQ)
What charges has Anthonie Ruinard, Jr. faced?
Anthonie Ruinard, Jr. has been indicted on charges of wire fraud and transactional money laundering for allegedly defrauding at least 54 individuals out of over $5.6 million through a fraudulent investment scheme.
What was the nature of the fraudulent scheme?
Ruinard, Jr. operated a fake business named Legacy Investors Group Inc., presenting himself as a successful investor and promising investors guaranteed returns of approximately 5% to 6% per month through ventures in capital, private equity, and real estate investments. Some investors received payments, while others lost their entire investments.
What personal expenses did Ruinard, Jr. use the funds for?
Ruinard, Jr. is accused of using the defrauded funds for personal expenses, including living costs, rental payments, casino gambling, credit card bills, and purchasing an armored vehicle valued at $344,000.
What is the potential sentence if convicted?
If convicted, Ruinard, Jr. faces up to 30 years in prison for the two charges of wire fraud and transactional money laundering.
Is there a connection between the fraud scheme and the death of Parker League?
Ruinard, Jr. is also the primary suspect in the 2023 death of 18-year-old Parker League, whose dismembered and burned body was found in a debris pile near Apache Junction. The investigation into League’s death is ongoing, and authorities have not disclosed further details regarding the connection between the fraud scheme and the homicide.
What should individuals do to protect themselves from similar fraud schemes?
This case serves as a reminder of the importance of conducting thorough due diligence before investing substantial sums of money. Individuals are encouraged to verify the legitimacy of investment opportunities and to be cautious of promises of high returns with minimal risk.
Key Features of the Fraud Case
| Feature | Details |
|---|---|
| Defendant | Anthonie Ruinard, Jr., 39 |
| Charges | Wire fraud and transactional money laundering |
| Amount Defrauded | Over $5.6 million from at least 54 individuals |
| Business Name | Legacy Investors Group Inc. |
| Promised Returns | 5% to 6% per month |
| Possible Sentence | Up to 30 years in prison |
| Connection to Homicide | Primary suspect in the death of 18-year-old Parker League |
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