CAPE GIRARDEAU - United States District Judge Stephen N. Limbaugh, Jr. sentenced Antron F. Ramey to 15 months in prison today. The 22-year-old Batesville, Arkansas resident pleaded guilty, in August, to one count of mail fraud and three counts of wire fraud.
On March 28, 2018, the Arkansas Securities Commission issued a Cease and Desist Order against Ramey and AFR Brokerage LLC, ordering Ramey and AFR to cease soliciting financial investments from individuals.
In 2018, Ramey began soliciting investment funds from individuals for investment purposes. Ramey told those individuals that he would invest their money in cryptocurrency investment accounts or foreign currency investments with investment firms, including one legitimate investment firm known as Grand Capital. Ramey held himself out to the individual investors as a financial investment advisor working on behalf of Grand Capital. Ramey provided investors with a Financial Services Agreement which outlined Ramey’s investment services and the investments to be made on behalf of the investor. However, Ramey was not affiliated with any investment services firm and was merely taking the individuals’ money and converting it to Ramey’s own benefit.
This case was investigated by the Federal Bureau of Investigation. Assistant United States Attorney Keith Sorrell handled the prosecution for the government. ##
Source: U.S. Department of Justice, Office of the United States Attorneys
