A San Diego man has found himself facing serious charges after an FBI investigation accused him of operating an extensive investment fraud scheme. According to a press release from the FBI’s San Diego Field Office, 29-year-old Ethan Joseph Sanchez allegedly deceived investors across the United States, convincing them to hand over at least $6 million since 2022.
Sanchez, who was taken into custody last Tuesday, is facing charges of wire fraud and money laundering after the October 29 indictment was made public. Court documents claim that he sought loans for his company, BSC Equity Ventures, with the pretense of funding real estate transactions, renovations, and construction of accessory dwelling units. He even conjured up a fictitious persona, “Richard ‘Rick’ Aguilar,” to further his scheme. Yet, instead of channeling the funds into property investments, Sanchez’s financial accounts painted a contrasting picture, with less than $1.8 million reportedly returned to the investors involved.
Special Agent in Charge of the FBI San Diego Field Office, Mark Dargis, emphasized the bureau’s vigilance against financial malfeasance: “Today’s indictment of Ethan Sanchez is another example of the FBI’s relentless pursuit of those individuals who choose to scam unsuspecting investors for their personal profit.” The implications of such crimes strain the very fabric of trust that underpins our economic system, and with it, the lives of those ensnared within these deceptive webs, according to the FBI’s San Diego Field Office…