Chandler man gets 7 years for 54-victim investment fraud scheme

By Jason W. Brooks
Mail | X: @JasonWBrooks2

A Chandler man has been sentenced to more than seven years in federal prison for an investment fraud scheme that defrauded 54 victims.

But Anthonie Ruinard Jr.’s wire fraud conviction isn’t even his most high-profile crime.

Ruinard, 40, is also charged in Maricopa County Superior Court with second-degree murder in the 2023 death of a Nebraska teen.

Ruinard was sentenced on Nov. 17 by U.S. District Judge Susan M. Brnovich, according to a news release, to 87 months in custody, followed by three years of supervised release.

Ruinard pleaded guilty to wire fraud earlier this year. He was ordered to pay more than $4.5 million in restitution to victims in the case.

“Fraudsters actively prey on communities to steal hard-earned money by using trust and false promises for their own greed and benefit,” U.S. Attorney Timothy Courchaine stated in the news release. “This sentence demonstrates that not only will scammers be held accountable financially, they will also face significant time in jail.”

U.S. Attorneys state Ruinard scammed 54 victims out of more than $5.6 million through an investment fraud scheme under the guise of a business called Legacy Investors Group Inc.

Attorneys say Ruinard falsely portrayed himself as a successful investor and promised victim-investors guaranteed rates of return through investments in venture capital, private equity, and real estate.

While some of the early victim-investors received some initial payments to perpetuate the fraud, others lost their entire investment. Throughout the scheme, Ruinard and his associates made excuses as to why the victim-investors were not receiving their payments, including “wire problems,” an unprecedented market, and the war in Ukraine, the release states.

Ruinard also sent an email to victim-investors with a screenshot falsely representing that he controlled an account with a balance of more than $470 million, attorneys stated.

He largely spent the victims’ money himself, including on luxury vehicles — for example, the purchase of an armored vehicle for $344,000 — general living expenses, casino gambling, credit card payments and rental expenses.

The FBI’s Phoenix Division conducted the investigation in this case. The U.S. Attorney’s District of Arizona-Phoenix handled the prosecution.

Separately, Ruinard has not gone to trial yet in the June 2023 killing of Parker League, 18, of Gretna, Nebraska.

Ruinard’s charged with second-degree murder and abandonment-concealment after he allegedly stabbed and dismembered League and burned his body parts in an area known as “The Pit” near Apache Junction, according to the Maricopa County Attorney’s Office.

Ruinard was indicted on state charges in League’s death in April 2024. His federal indictment on wire fraud was announced that November.

On June 12, 2023, League’s body was found in a debris burn pile on Tonto National Forest land.

The victim had been dismembered, stabbed and burned beyond recognition, requiring the county medical examiner to use dental records to identify League, according to the County Attorney.

Jason W. Brooks can be reached at jbrooks@iniusa.org. Please submit comments at yourvalley.net/letters or email them to AzOpinions@iniusa.org. We are committed to publishing a wide variety of reader opinions, as long as those meet our  Civility Guidelines.

INDEPENDENT NEWSMEDIA

Jason W. Brooks
News Editor | Chandler Independent

Jason W. Brooks joined Independent Newsmedia, Inc., USA, in July 2021 as an associate editor. After a year covering Buckeye, he has covered Chandler since the fall of 2022, in addition to assisting the Daily Independent throughout his time at INI.

Education: University of New Mexico, bachelor of arts in journalism and mass communication, print emphasis, English minor.

Random Fact: He and his siblings witnessed a Space Shuttle launch and landing in the same year in person, on opposite coasts.

Hobbies: Karaoke, bicycling and American Sign Language.

Community: He supports animal shelters.