Fact Checked by 
An Arizona man has been sentenced to 87 months behind bars, followed by three years of supervised release, after scamming 54 individuals to pay for a gambling habit and lead a lavish lifestyle, according to a press release from the United States Attorney’s Office.
Anthonie Ruinard, Jr, will also have to pay $4,508,057 in restitution to every victim in the case.
Arizona Man Sentenced to More than Seven Years for Defrauding 54 Victims in Investment Fraud Schemehttps://t.co/K7L3VvnbBO pic.twitter.com/y8u92NCuE9
— FBI Phoenix (@FBIPhoenix) November 24, 2025
Ruinard was able to fraudulently scam 54 people out of roughly $5.6 million through an investment fraud scheme, which was under the guise of a business titled Legacy Investors Group Inc.
The 40-year-old posed as a successful investor and promised those affected in the case a guaranteed return across investments in areas such as real estate and private equity.
Some victims did receive money early on in the scheme to avoid suspicion, but Ruinard used excuses such as the ongoing war in Ukraine and an unprecedented market to keep the ruse going.
“This sentencing sends a clear and unmistakable message: individuals who engage in financial fraud for personal gain will be held accountable,” said Heith Janke, the FBI agent who was in charge of the case.
“The FBI, together with our law enforcements partners, will continue to identify, investigate and pursue those who orchestrate criminal schemes for their own profit. We remain committed to protecting the public and safeguarding the integrity of our financial system.”
Authorities say that while his fraud case was still unfolding, Ruinard Jr. allegedly killed an 18-year-old visiting Arizona in 2023. He’s now facing a separate set of charges for that incident, including second-degree murder and abandoning a body.
Arizona judge issues sentence in gambling-fueled fraud case
United States District Judge Susan M. Brnovich delivered the sentence on November 17, and it will be ten years before he can live a normal life again.
“Fraudsters actively prey on communities to steal hard earned money by using trust and false promises for their own greed and benefit,” said U.S. Attorney Timothy Courchaine following the news.
“This sentence demonstrates that not only will scammers be held accountable financially, they will also face significant time in jail. The United States Attorney’s Office will continue to prosecute these crimes in order to protect the honest work of those who build their lives here in Arizona.”
Ruinard took millions from his victims and spent it on items such as an armored vehicle, gambling, living expenses and credit card payments.
It was reported in 2024 that around 80 million US consumers have lost money to fraud or financial scams over the previous five years.
Featured image: Maricopa County Sheriff’s Office
