according to the U.S. Attorney\u2019s Office for the Southern District of New York. <\/a><\/p>\nOfficials say that between 2017 and 2021, Lusher orchestrated a scheme to defraud over 20 investors out of more than $5 million.<\/p>\n
\u201cFor years, the defendant\u00a0allegedly\u00a0solicited investors\u2019 funds by representing that he had a\u00a0hugely\u00a0profitable trucking business. That wasn\u2019t true, and the defendant\u00a0instead\u00a0allegedly\u00a0used the funds to\u00a0run a classic Ponzi scheme, enriching himself along the way. When\u00a0luck ran out,\u00a0the\u00a0victims\u00a0sustained millions of dollars in losses. Today\u2019s arrest serves as a stark reminder that the illusion of success built on fraud and deceit will inevitably\u00a0fail,\u201d said U.S. Attorney\u00a0Damian Williams.<\/p>\n
As part of the scheme, officials say that Lusher and a group of associates asserted that Lusher ran a successful trucking company that hauled goods for multiple large retailers. Investors were allegedly told that for about $45,000 they could fund the purchase of a truck, and in return, these investments would generate high rates of return over a fixed period\u2014typically between 30% and 40% over one or two years. Lusher was able to raise more than $40 million through this scheme, the U.S. Attorney\u2019s Office said.<\/p>\n
In reality, officials say that Lusher\u2019s small company only did about $300,000 worth of business with one major retailer \u2014 not enough to produce the promised returns for investors.<\/p>\n
Rather than using the investor money to purchase trucks or grow his trucking business, Lusher is said to have \u201cpaid earlier victims with later victims\u2019 funds\u201d and spent on gambling and high-end goods. In this way, Lusher was reportedly able to maintain the scheme for years, until it finally collapsed in early 2021, \u201cleaving numerous victims with losses totaling more than $5 million.\u201d<\/p>\n
Lusher is also accused of using fake documents to carry out the scheme.<\/p>\n
FBI Assistant Director James E. Dennehy said: \u201cFor four years, Arsen Lusher allegedly defrauded numerous victims of more than $5 million by cycling their investments to conceal the business\u2019s inability to produce its promised returns, and altered official tax documents to reflect inflated balances in furtherance of this ploy.\u00a0The alleged empty assurances allowed the defendant to wrongfully haul in funding from investors and selfishly benefit from their losses.\u00a0 The FBI will continue to disrupt and hit the brakes on any investment scheme rooted in deceit.\u201d<\/p>\n
IRS-CI Special Agent in Charge Thomas Fattorusso said:\u00a0\u201cIt\u2019s alleged Lusher acted with impunity for years, deceiving over 20 investors out of more than five million dollars.\u00a0He created a \u2018get-rich-quick\u2019 scheme, then sold his victims a dream of high-returns on their investment.\u00a0 Instead of a profit, investors were left with a loss of money and of trust.\u00a0Today\u2019s arrest ensures that Lusher can now be held accountable for his alleged fraud.\u201d<\/p>\n
CBP Director Francis J. Russo said:\u00a0\u201cU.S. Customs and Border Protection is proud to have played an important role in this investigation that resulted in the takedown of an elaborate conspiracy to defraud the United States. This case serves as a great example of how collaborative law enforcement efforts can dismantle nefarious enterprises that cause economic harm to their competitors.\u201d<\/p>\n<\/div>\n
\n
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