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3w ago

Francius Marganda Sentenced to 18 Years for $24.5M Ponzi Scheme

The scheme defrauded over 200 victims, primarily Indonesian and Indo-American investors, and funded Marganda's lavish lifestyle before his arrest and extradition.

The U.S. Courthouse in Brooklyn, N.Y.
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Overview

  • Francius Marganda, 42, has been sentenced to 18 years in federal prison for orchestrating a $24.5 million Ponzi scheme targeting over 200 victims.
  • The scheme, which ran from 2019 to 2021, promised returns of up to 200% through two fraudulent programs, Easy Transfer and Global Transfer.
  • Marganda used investor funds to finance luxury expenses, including stays at five-star hotels and the purchase of real estate and luxury goods.
  • After the scheme collapsed in 2021, Marganda fled the U.S. using a fake Indonesian passport and was extradited from Singapore in 2023.
  • He has been ordered to pay $8.5 million in restitution and $7.5 million in forfeiture, while efforts to identify additional victims and provide restitution continue.