Ian Gregory Bell, a 36-year-old Denver resident, has been sentenced to 37 months in prison and ordered to pay over $1.2 million in restitution after pleading guilty to wire fraud and money laundering. The sentence also includes three years of supervised release and a $150,000 fine.
According to the plea agreement, Bell ran a scheme from early 2020 through at least 2022 that defrauded about 30 investors out of more than $1.2 million. Authorities said Bell used the funds for personal expenses including vacations, jewelry, expensive meals, and his fiancée’s credit card payments. He gained investors’ trust by presenting himself as a licensed investment advisor with prior experience as a managing director at an investment firm. He also promoted investments as risk-free and gave false statements showing large gains.
“Defrauding people who put their trust into a financial advisor is a serious crime,” said United States Attorney Peter McNeilly. “Justice has been served for those who were negatively impacted by the defendant’s dishonest actions.”
Amanda Prestegard, Special Agent in Charge of IRS-CI Denver Field Office, stated: “Bell portrayed himself as a successful investment advisor and preyed on innocent victims for personal gain. Our special agents are experts in unraveling complex financial crimes such as Ponzi schemes that devastate victims emotionally and financially and erode the public’s trust in our financial system.”
Inspector in Charge Bryan Musgrove of the Denver Division of the U.S. Postal Inspection Service added: “Bell defrauded innocent victims who had placed their trust in him and subsequently suffered financial losses and undue emotional stress. This sentencing showcases the phenomenal work that Postal Inspectors and their law enforcement partners do daily to bring those to justice who exploit others through fraudulent schemes.”
The case was presided over by Chief United States District Judge Philip A. Brimmer. The investigation was conducted by the United States Postal Inspection Service and Internal Revenue Service – Criminal Investigation, while Assistant United States Attorney Brad Giles prosecuted the case.
