A McLean man faces 30 years in prison after being convicted on charges related to his operation of a Ponzi scheme centered on the buying and selling of precious metals.
Warith Deen Muhammad, 39, was convicted in federal court on Wednesday (Feb. 4), less than four months after being arrested for his role in the scheme that netted him $1.5 million between November 2021 and June 2023.
According to federal prosecutors, Muhammad lured investors to his Alexandria-based precious metals firm Niagara Gold and Silver LLC by guaranteeing profits of 5% to 10% and repayment within 30 days…