Mexican businessman sentenced in pyramid scheme
A self-proclaimed licensed investment broker has been sentenced to more than 19 years in prison for carrying out a ponzi scheme.
On Wednesday, a federal judge in El Paso sentenced 40-year-old Roberto Trinidad Del Carpio Frescas to 235 months in federal prison followed by three years of supervised release.
Federal prosecutors say the ponzi scheme resulted in an estimated $14 million loss. A hearing has been set for May 25th to determine the amount of restitution in this case.
Del Carpio has remained in federal custody since his arrest in February 2015.
During the trial, evidence revealed that Del Carpio portrayed himself to have superior knowledge and
ability as an investor in stocks, bonds, futures in oil, gas, precious metals and currency. Though he was not
licensed in the state of Texas as a dealer, or registered as an investment adviser, Del Carpio formed several
companies in Texas including SMI International Institute Corporation (aka Stock Market Investment), Del
Carpio Trading Institute LLC, and one in the Cayman Islands, Del Carpio Holdings, to facilitate his scheme.
From August 2010 until January 2012, Del Carpio and others collected money from over 100 known investors
in Mexico and the United States. Prosecutors say Del Carpio pocketed most all of the funds he collected though he did pay minimal amounts to “early” investors as a return on their investment and to encourage his victims to invest more of their money with him.
According to ABC-7’s archives, hundreds of people from El Paso, Juarez, and Chihuahua fell victim to the scam.
