United States of America v. Nurnepes Nurjanov

San Antonio, Texas criminal defense lawyer represented the Defendant charged with Wire Fraud

Austin Man Sentenced to Federal Prison for $1.5 Million Wire Fraud Scheme

An Austin man was sentenced in federal court to 41 months in prison for defrauding multiple investors in a $1.5 million Ponzi scheme.



According to court documents, Nurnepes Nurjanov, 34, was an informal day trader who, in September 2019, began soliciting funds from investors, drafting agreements that promised minimum returns, the split on profits between him and his investors, and investor access to the trading accounts. He also promised to use investment funds only for stock trades and agreed to pay "50% of clean profit” to the investor. To entice potential investors, Nurjanov created false documents indicating favorable investment returns and, using a trading simulator template, showed them alleged gains he was making.



One investor agreed to invest $50,000 in October 2019, and was shown a fraudulent investment statement reflecting a significant return. Another investor provided $50,000 in December 2020, followed by $142,500 in February 2021. That investor made several other large investments with Nurjanov over the next several months before selling their business in June 2022 and investing the proceeds of $325,000 with Nurjanov. Subsequentially, that investor referred a friend to Nurjanov, who in-turn was convinced by multiple false statements to wire Nurjanov $200,000. While they did receive alleged investment returns, the funds were proceeds from money invested by other victims of Nurjanov's scheme.



Nurjanov spent other portions of the fraudulently acquired cash and assets for his personal living expense. In total, Nurjanov defrauded victims of $1,524,500.



Nurjanov was summoned to appear in court and made his initial appearance June 13, 2024, at which time he pleaded guilty to one count of wire fraud. In addition to imprisonment, Nurjanov was ordered to pay $1,505,500 in restitution.



U.S. Attorney Jaime Esparza for the Western District of Texas made the announcement.