A resident of Fountain Hills is set to receive his sentencing after entering a guilty plea regarding extensive fraudulent activities that affected numerous individuals.
Jeremie Andrew Sowerby, aged 48, confessed to perpetrating various investment scams from 2017 to 2023, resulting in losses exceeding $7.5 million for his victims, as reported by the U.S. Attorney’s Office in the District of Arizona.
In accordance with his plea agreement, Sowerby is obligated to provide restitution that could reach as high as $30 million to those impacted by his fraud.
Between 2017 and 2018, Sowerby posed as a multilevel marketing professional, persuading around 400 individuals to invest in cryptocurrency via three entities: Now Mining, VIP Mining, and Millennium Technologies. This fraudulent endeavor led to a loss of at least $7.5 million among his victims. His accomplice, Luis Ortega, faces pending charges, according to the U.S. Attorney’s Office.
Sowerby also admitted to defrauding no fewer than 150 individuals through Dumanis Global Technologies from 2018 to 2019. In this operation, he convinced victims to buy cryptocurrency mining machines while also paying for their storage and electricity costs. However, these mining machines were never real, resulting in millions of dollars lost for the victims.
Another scheme aimed at high-income individuals was run through a company known as Justice Capital. From 2021 to 2023, Sowerby promoted access to hedge funds that operated using a “bot” algorithm. One victim was scammed out of $207,000.
The sentencing is set for October 14. According to the U.S. Attorney’s Office, wire fraud convictions can carry a maximum sentence of 20 years in prison.
Sowerby committed wire fraud involving over a dozen companies. Authorities continue to work to identify all victims of his schemes. Individuals who suspect they may have fallen victim are urged to reach out to the FBI.