Four men were indicted for allegedly engaging in a $16 million wire fraud and money laundering operation connected to their investment firm, which involved fake offerings promising large returns.
John C. Nock, 53, of Fayetteville, Arkansas; Brian Brittsan, 65, of San Marcos, California; Kevin Griffith, 66, of Orem, Utah; and Alexander Ituma, 55, of Lehi, Utah, were charged in the indictment unsealed in the Western District of Arkansas, according to a statement from the U.S. Department of Justice (DOJ).
The four defendants were reportedly engaged in an investment fraud scheme between 2013 and 2021 through their firm, The Brittingham Group. Brittsan is described as a director of the firm and Nock as the company’s founder, according to the Times of San Diego.
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Victims were falsely told that The Brittingham Group had an office in New York City along with a dedicated investment program through an unidentified financial institution. Victims were also given false information that the company had established credit line facilities with several firms.
According to the indictment, victims were sent correspondence on letterhead that appeared to be from financial institutions that promised big returns on their money with a guarantee that their principal would be safe.
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Brittsan and Nock instructed victims to send money to bank accounts that were managed by Griffith, Ituma and others, according to the DOJ’s statement. The defendants then allegedly moved the funds around the world using a complex network of bank accounts.
When victims didn’t receive payments, Nock and Brittsan allegedly told them that payments were delayed due to transfers from the countries where the investments had taken place.
The defendants are each charged with wire fraud, conspiracy to commit wire fraud and conspiracy to commit money laundering, with each count carrying a sentence of up to 20 years in prison. In addition, Nock is charged with money laundering, which carries a separate sentence of up to 10 years in prison.
