Date: 07-18-2018

Case Style:

Case Number: 8:17-cr-00084-DOC

Judge: David O. Carter

Court: United States District Court for the Central District of California (Orange County)

Plaintiff's Attorney: Daniel S. Lim and Joseph T. McNally

Defendant's Attorney: Diane Bass

Description: Santa Ana, CA - Orange County Real Estate Investor Sentenced to More Than Six Years in Federal Prison

A former Orange County real estate investor was sentenced on July 17, 2018 by United States District Judge David O. Carter to 78 months in prison for defrauding 70 investors out of more than $12 million.

Francisco Plascencia Esparza, 46, formerly of Coto De Caza now residing in Cumming, Georgia, solicited millions of dollars from investors in Southern California, promising to use the money to acquire real estate and pay a fixed rate of return on their investments.

Esparza pleaded guilty in September to wire fraud, admitting that he had lured investors over a seven-year period by falsely claiming that he had run successful businesses and investment ventures when, in fact, his prior business ventures failed. Esparza engaged in a Ponzi scheme, using funds from new victims to pay off prior investors. Esparza also admitted using investor money for personal purposes, including purchasing a home, luxury cars, a wedding, and vacations.

Judge Carter found that dozens of victims suffered substantial financial harm from the fraud, including for some, the loss of their 401k retirement accounts and the inability to retire as planned, if at all.

Judge Carter ordered Esparza to pay $12.6 million in restitution.

The investigation was conducted by the Federal Bureau of Investigation.

Outcome: 18:1343: Wire Fraud
(1) Defendant is committed to the custody of Bureau of Prisons for 78 months. Supervised release for 3 years under the terms and conditions of US Probation Office and General Order 05-01, and 05-02. Special assessment of 100. Restitution of 12,681,921. All fines are waived

07/17/2018 38 MINUTES OF SENTENCING Hearing held before Judge David O. Carter as to Defendant Francisco Plascencia Esparza. Defendant Francisco Plascencia Esparza (1), Count(s) 1, Defendant is committed to the custody of Bureau of Prisons for 78 months. Supervised release for 3 years under the terms and conditions of US Probation Office and General Order 05-01, and 05-02. Special assessment of $100. Restitution of $12,681,921. All fines are waived Bond exonerated upon surrender. Defendant advised of right of appeal. Defendant to surrender not later than 12 noon on or before 8/27/2018. See separate Judgment and Commitment. Court Reporter: CourtSmart. (twdb) (Entered: 07/18/2018)
07/17/2018 39 JUDGMENT AND COMMITMENT by Judge David O. Carter as to Defendant Francisco Plascencia Esparza (1), Count(s) 1, Defendant is committed to the custody of Bureau of Prisons for 78 months. Supervised release for 3 years under the terms and conditions of US Probation Office and General Order 05-01, and 05-02. Special assessment of $100. Restitution of $12,681,921. All fines are waived. Defendant advised of right to appeal. Defendant's bond is exonerated upon surrender. Defendant ordered to surrender on or before 12 noon on 8/27/18. (twdb) (Entered: 07/18/2018)

Plaintiff's Experts:

Defendant's Experts:

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