Hayden O’Byrne United States Attorney for the Southern District of Florida | The Florida Bar
Adam Jonathan Lowe, a 43-year-old resident of West Pittston, Pennsylvania, has been sentenced to over six years in federal prison for his role in a multi-million dollar diamond investment fraud scheme. The sentencing was handed down by Judge David Leibowitz on May 15, 2025. Lowe was convicted of conspiracy to commit wire fraud, wire fraud, mail fraud, and engaging in monetary transactions with criminally derived proceeds. Following his release from prison, Lowe will be subject to three years of supervised release and is required to pay restitution to the victims.
Co-defendant Murray Todd Petersen, aged 73 from Fair Oaks, California, received a nine-year federal prison sentence on May 13, 2025. Judge James I. Cohn issued the sentence after Petersen's conviction in a jury trial held in Fort Lauderdale, Florida. Petersen's charges included conspiracy to commit wire fraud and wire fraud. Like Lowe, Petersen will also serve three years of supervised release upon completing his prison term and must pay restitution.
Scott Schafer, another co-defendant aged 62 from Pembroke Pines, Florida, was sentenced earlier on October 18, 2024. Schafer received five years probation following his conviction for conspiracy to commit wire fraud.
Court documents and trial testimony revealed that Adam Jonathan Lowe operated as the president of The Diamond Desk and manager of PetersenLowe LLC., supplying fancy-colored diamonds globally. Murray Todd Petersen acted as a salesman for PetersenLowe LLC., persuading investors with false claims about the security and profitability of these diamond investments. The scheme involved selling overpriced diamonds based on fraudulent appraisals provided by Scott Schafer.
To address investor cash-out demands at inflated appraisal prices, the defendants falsely promoted a Chinese investment program promising high returns—a Ponzi scheme intended to repay initial investors using funds from new ones. When complaints arose regarding missing returns and inaccurate appraisals, the scheme shifted again into theft mode where prepaid diamonds were never delivered.
Petersen allegedly earned approximately $850,000 in sales commissions used for personal expenses including settling IRS tax liens. Overall, the fraudulent operation netted around $13 million from over 100 victims.
The convictions were announced by U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida alongside Acting Special Agent Jeffrey B. Veltri of the FBI Miami Field Office.
The investigation was conducted by FBI Miami with prosecution led by Assistant U.S. Attorneys Marc Anton and Latoya Brown while Assistant U.S. Attorney Marx Calderon managed asset forfeiture proceedings.
Further information can be accessed through official websites related to the United States Attorney’s Office for the Southern District of Florida or through court records under case number 23-cr-60225.
