A federal jury in Sherman, Texas, convicted a Frisco couple on Thursday of conspiracy, wire fraud, and money laundering for operating a multi-million-dollar pyramid scheme that defrauded thousands of victims during the COVID-19 pandemic, federal prosecutors announced.
According to the U.S. Department of Justice, LaShonda Moore, 38, and Marlon Moore, 39, of Frisco, Texas, co-founded and ran an illegal chain-referral investment scheme known as Blessings in No Time (BINT) from June 2020 through June 2021. Prosecutors said the operation victimized more than 10,000 people nationwide and resulted in losses exceeding $25 million.
According to the U.S. Department of Justice, the Moores recruited participants through weekly livestream broadcasts during the pandemic, using false and misleading statements to induce people to invest. Victims were told they could earn up to 800% returns on a $1,400 “blessing” payment and were guaranteed refunds if dissatisfied.
Federal prosecutors said the operation was structured with “playing boards” that had four levels — Fire, Wind, Earth and Water. Once eight new participants filled the lowest tier, each was directed to send a payment of at least $1,400 to the person in the Water position. That participant would then receive payments totaling more than $11,000. Participants on lower levels were required to recruit more members to advance, a structure characteristic of illegal pyramid schemes.
The Moores placed themselves in advantageous positions on the playing boards and diverted substantial funds to themselves, prosecutors said.
Officials said the program was falsely marketed as a community-oriented effort, but in reality relied on continuous recruitment of new participants to fund payouts.
“This scheme deliberately targeted the African American community, exploiting cultural trust and community ties,” said Christopher J. Altemus Jr., special agent in charge of IRS Criminal Investigation’s Dallas Field Office. Prosecutors said the pyramid scheme was marketed broadly, but victims and local reports confirmed outreach within community groups.
LaShonda and Marlon Moore were each convicted of one count of conspiracy to commit wire fraud, five counts of wire fraud, and three counts of money laundering. Sentencing dates have not been set. Under federal law, they each face a maximum penalty of up to 20 years in prison on each conspiracy and wire fraud count and 10 years on each money laundering count.
The investigation was led by the U.S. Postal Inspection Service, the United States Secret Service, and IRS Criminal Investigation. Assistant U.S. Attorneys and trial attorneys from the Department of Justice’s Fraud Section prosecuted the case.
“The harm caused by greed-driven, deceptive investments promising returns too good to be true cannot be overstated,” said Eric Shen, inspector in charge of the U.S. Postal Inspection Service’s Criminal Investigations Group.
Victims seeking assistance may contact the Justice Department’s Fraud Section Victim Witness Unit.
The Dallas Express will continue to provide updates on sentencing and related developments.