Arizona man to pay up to $30M in restitutions after pleading guilty to investment fraud

A Fountain Hills man who pleaded guilty to investment fraud will pay up to $30 million in restitutions across nearly 20 companies with which he defrauded his victims, the District of Arizona for the U.S. Attorney’s Office said.

Jeremie Andrew Sowerby, 48, admitted to a series of fraud schemes from 2017 to 2023 that scammed well over 500 victims.

Most recently, Sowerby participated in a scheme from 2021 to 2023 where an entity called Justice Capital posed as a hedge fund for high-income earners. One individual was defrauded out of $207,000 as they fell prey to a “bot” algorithm, according to authorities.

Separate cases from 2017 to 2018 and from 2018 to 2019 combined to impact approximately 550 victims in cryptocurrency schemes, including convincing people to buy crypto mining machines that did not exist.

Authorities said they have not yet identified all victims involved who would receive the restitutions, and they ask anyone who believes they were scammed by the following companies to fill out an online questionnaire:

• Now Mining
• VIP Mining
• Millennium Technologies
• Dunamis Global Technologies
• SOFTEK, LLC
• Justice Capital
• Stealth Capital
• FX Primary
• Phoenix Ultra
• Limitless Trading
• Block Mint
• Block X (BLKX)
• Digital Mint
• 888 Management
• Kannabiz Koin (KK)
• Kannabiz Monkeez
• My Blockchain Life
• My Block X
• We Sell Miners

Sowerby’s sentencing is scheduled for Oct. 14. There is a maximum of 20 years in prison for each count in a wire fraud conviction.

Related

Supervisor Thomas Galvin sworn in as SRP board memberDave Ramsey says: Don’t let up, you can see the finish line!State’s 1st primary care medical clinic for autism opens in PhoenixESA reform Prop 212 won’t make Arizona voters’ ballot, per a court ruling13-year-old e-bike rider dies after being struck by car in West ValleyPhoenix Children’s Tim Harrison breaks down how Give-A-Thon donations benefit patients