A Boerne man who targeted retired San Antonio police officers, other first responders and their families in a massive Ponzi scheme was sentenced in federal court this week to more than 11 years in prison.

SAN ANTONIO – The mastermind behind a Ponzi scheme that defrauded victims out of millions of dollars they believed were being invested in aviation engines pleaded guilty Wednesday to wire fraud in federal court in San Antonio, according to records from the case. ‘I feel cheated, angry’: Woman invested nearly $400K in aviation engine venture, lost nearly all of itFederal regulators, however, could find no record that a single aircraft engine had been purchased by the company since 2015, according to the SEC lawsuit. Regulators said Farias used nearly half of the $14 million raised to pay investors Ponzi-like returns. Farias was charged with wire fraud last year, and the criminal paperwork was unsealed in mid-December, according to federal court records. She was one of 50 investors who later filed suit against Farias in Bexar County, court records show.

SEC regulators detailed their case against Farias in a lawsuit filed late last month in San Antonio federal court. (KSAT)A lawsuit filed in Bexar County district court last week is attempting to recoup those funds, which would then be turned over to some of Farias victims. A second lawsuit filed against Farias in Bexar County district court is pending, according to an attorney representing those investors. Federal records show Farias was served a summons and the civil complaint August 5, while Integrity Aviation was served a day later. A spokeswoman for the San Antonio office of the FBI said via email this month she could neither confirm nor deny whether an investigation was taking place.

Federal lawsuit: Multi-million dollar Ponzi scheme targeted retired SAPD officers, other first respondersPublished: July 31, 2020, 6:15 pmA Kendall County man swindled millions of dollars from retired San Antonio police officers and other first responders as part of a multi-million dollar Ponzi scheme, according to a lawsuit filed this week by investigators from the Securities and Exchange Commission.

SAN ANTONIO – A Kendall County man swindled millions of dollars from retired San Antonio police officers and other first responders as part of a multi-million dollar Ponzi scheme, according to a lawsuit filed this week by investigators from the Securities and Exchange Commission. The lawsuit, which was first reported by the San Antonio Express-News, accuses 47-year-old Victor Lee Farias of carrying out the fraudulent investment scheme from 2013 through January of last year. Farias told investors their money would be spent on aircraft engines and other parts which would then be leased or resold to the major airlines, according to the lawsuit. Investors, many of whom were retired first responders, were promised a return on their investments of between 10-12 percent per year, the suit states. The suit claims Farias is 46, but a background check revealed that he is actually 47.