Rudy Avila, 69, of Dallas has been sentenced to more than 17 years in federal prison after pleading guilty to wire fraud in 2021 and conning more than four hundred investors out of nearly $15 million, misrepresenting himself as an investor in North American-based business.
Investors within these seven companies were defrauded: Starwood Asset Management Fund, Commodities Investment Group International, Trading Technologies Group, Trading Ventures Group, The L.I.F.T. Group, Capital Ventures Group, and Ventures Group, LLC.
None of those seven businesses were registered with the U.S. Securities and Exchange Commission or the Commodities Futures Trading Commission as required.
Operating under the guise of a legitimate investor, Avila registered several businesses with the Texas Secretary of State, established business-banking accounts, leased North Texas office space, and filed fraudulent annual business reports.
Avila routinely routed at least 90% of funds received for investment into the bank accounts of two co-conspirators and made Ponzi payments to other investors.
Eddie Alexander Contreraz and Ivan Aguirre, the two co-conspirators, each pleaded guilty to conspiracy to commit wire fraud last year and are still awaiting sentencing.
Coupled with his more-than-17-year sentencing, Avila was also ordered to pay over $14,900,000 in restitution.