Fresno man sentenced to nearly six years for $4.2 million fraud scheme

Fresno man sentenced to nearly six years for $4.2 million fraud scheme

FRESNO, California — Royce Newcomb, a 62-year-old from Fresno, has been sentenced to five years and 10 months in prison for wire fraud and money laundering. Newcomb's scheme defrauded investors, lenders, and the federal government of $4.2 million, according to…

DOJ: Fresno tech startup owner sentenced for $4.2M fraud scheme

Fresno man sentenced to prison for $4.2 million fraud scheme

A Fresno man is heading to prison for stealing millions of dollars in a wire fraud and money laundering scheme.  Royce Newcomb, 62, was sentenced to five years and 10 months in prison for wire fraud and money laundering charges.  The big picture: Newcomb stole $4.2 million from investors, lenders and the federal government through his fraud scheme.  Newcomb owned technology startup Strategic Innovations from 2017 to 2022. The company purported …

Fresno Man Sentenced to Nearly 6 Years for $4.2 Million Tech Startup Fraud

A Fresno man was sentenced Monday to nearly six years in federal prison for orchestrating a $4.2 million fraud scheme through his technology startup, authorities announced. Royce Newcomb, 62, was sentenced to five years and 10 months behind bars after being convicted on wire fraud and money laundering charges stemming from a scheme that targeted investors, lenders, and the federal government, Acting U.S. Attorney Michele Beckwith said. Newcomb o…

Man Jailed for Running $40 Million Crypto Fraud Scheme

A 57-year-old man from the US has been sentenced to nearly eight years in prison for leading a fake cryptocurrency investment scheme that took over $40 million from investors.