Articles Tagged with diamond investment scam

Jay Bruce Heimburger, a Dallas man, has pleaded guilty to mail fraud over his involvement in a $6.4M investment scam that allegedly took place from about March 2011 to November 2013. He faces up to more than 20 years in prison, has to pay a $250K fine, and could be ordered to pay restitution.

Heimburger is the second man to plead guilty in the investment scam, which defrauded investors of $6.4M. In plea documents, Heimburger admitted to seeking to bilk investors while using false pretenses and promises, as well as by making misrepresentations.

Another man, Houston resident Christopher Arnold Jiongo, pleaded guilty earlier this year to wire fraud related to the scam. Both men will be sentenced later this year. A third Texan, Craig Allen Otteson from McKinney, is scheduled to plead guilty on July 18.

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