Richard Patterson, Jr., a 44-year-old resident of Norco, California, was sentenced on Mar. 10 to 68 months in federal prison and three years of supervised release for his role in a multimillion-dollar wire fraud conspiracy and for failing to appear at a court hearing, according to United States Attorney Ken Sorenson.
Patterson was also ordered to pay $2,030,000 in restitution to more than 15 victims. The case highlights the significant financial harm caused by fraudulent investment schemes and the efforts by law enforcement to hold perpetrators accountable.
According to his August 2025 plea agreement, Patterson and two coconspirators—Dashawn Hill and Judy Ramos—operated an advance payment scheme that solicited upfront investments ranging from $5,000 to $550,000. They falsely promised investors risk-free returns between 200% and 1000%, claiming the funds would be used for fees related to financial products. Instead, authorities said the money was spent on personal expenses including luxury living arrangements at Ala Moana, high-end goods, travel, rent, and entertainment. Patterson also used the alias “Xavier Carter,” adopted a fake accent, and claimed foreign nationality as part of the deception.
A week before his scheduled federal fraud trial on October 28, 2024, Patterson failed to appear at two court hearings. He stopped communicating with his attorney and fled California while out on bond. He was later arrested in Southern California and returned to Hawaii for prosecution.
Co-defendants Hill and Ramos have both pleaded guilty under separate agreements. Their sentencings are set for May 13 and June 2 of this year.
The Federal Bureau of Investigation conducted the investigation into this case. Assistant U.S. Attorney Michael F. Albanese prosecuted.
