A federal jury in Sherman, Texas, has found a married couple guilty of running an illegal pyramid scheme, leading to significant financial losses for many. LaShonda Moore, 38, and Marlon Moore, 39, engaged in this fraudulent activity through their operation known as “Blessings in No Time” (BINT) during the COVID-19 pandemic.
Details of the Pyramid Scheme
Between June 2020 and June 2021, the Moores orchestrated a scheme that defrauded over 10,000 individuals, totaling more than $25 million in losses. They recruited victims by promising unrealistic returns on investments. Participants were led to believe they could earn 800% on a $1,400 investment, with a guarantee of refunds.
Recruitment and Operations
- The Moores utilized live-streamed video broadcasts to attract participants across the United States during lockdowns.
- Victims were told their contributions would financially support others within their own community.
- BINT operated using structured “playing boards” where participants advanced levels by recruiting new victims.
Each new participant was required to pay at least $1,400 with the promise of receiving substantial returns shortly thereafter. The structure foresaw participants moving through ranks, with the Moores strategically positioning themselves to receive payments from new recruits.
Legal Consequences
LaShonda and Marlon Moore were convicted of conspiracy to commit wire fraud, multiple counts of wire fraud, and money laundering. Each faces a maximum of 20 years in prison for the fraud charges and 10 years for money laundering. Sentencing dates have yet to be determined.
Assistant Attorney General A. Tysen Duva emphasized the Justice Department’s commitment to addressing such frauds that exploit vulnerable populations, particularly during difficult times like the pandemic. The investigation was supported by various agencies, including the U.S. Postal Inspection Service and IRS Criminal Investigation.
Community Impact
The Moores’ actions have been described as a betrayal of trust, particularly targeting the African American community. They used deceptive marketing, leveraging cultural trust to exploit individuals seeking economic opportunities during a crisis.
This conviction serves as a warning to those who participate in similar schemes. Authorities continue to urge anyone who believes they may have been a victim to reach out for support and information regarding their rights.
For further assistance, victims can contact the Fraud Section’s Victim Witness Unit toll-free at (888) 549-3945.
