A federal grand jury in Phoenix has indicted Anthonie Ruinard, Jr., a 39-year-old resident of Chandler, Arizona, on charges of wire fraud and transactional money laundering. The indictment alleges that Ruinard deceived at least 54 individuals, obtaining over $5.6 million through an investment fraud scheme under the name Legacy Investors Group Inc.
Ruinard is accused of falsely presenting himself as a successful investor with assets exceeding $470 million. He allegedly promised investors guaranteed returns of 5% to 6% per month through investments in venture capital, private equity, and real estate. While some early investors received initial payments to maintain the appearance of legitimacy, others reportedly lost their entire investments. It is alleged that Ruinard used the funds for personal expenses such as luxury vehicles, including an armored vehicle costing $344,000, general living expenses, casino gambling, credit card payments, and rental costs.
The legal consequences for wire fraud include a maximum sentence of 20 years in prison and a fine up to $250,000. Transactional money laundering carries a potential penalty of up to 10 years in prison and a similar fine.
An indictment serves as a formal charge but does not imply guilt. The presumption of innocence remains until proven guilty beyond reasonable doubt by a jury.
The investigation was conducted by the Federal Bureau of Investigation – Phoenix Division. The prosecution is being managed by the United States Attorney’s Office for the District of Arizona in Phoenix. Victims who have not yet contacted authorities are encouraged to reach out via email at LegacyGroupVictims@fbi.gov or complete the questionnaire available online.
For more information about this case or other activities by the U.S. Attorney’s Office for the District of Arizona, visit their website or follow them on social media.
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