A 22-year-old Scottsdale man, Brandon Scott Menaged, was sentenced on July 9, to 33 months in prison after pleading guilty to Wire Fraud.
Menaged was also ordered to pay $751,000 in restitution.
According to the Department of Justice, between January 2023 and December 2024, Menaged defrauded multiple victims by soliciting their money for investments that did not exist. For example, Menaged misrepresented to victims the nature of the investments and referenced phantom investors to convince the victims to provide him with funding. Meanged then diverted victims’ funds for his personal expenses. When victims asked Menaged to return their funds, he provided them with a series of excuses for why the funds could not be returned or blocked their communications.
Through this scheme, Menaged fraudulently received $1,000,000 from victims and used the money to fund his lavish lifestyle by gambling at casinos, traveling internationally, and purchasing luxury vehicles, firearms, and Rolex watches.