FBI agents arrest Las Vegas man in business loan scheme
A Las Vegas man has been arrested by FBI agents in what authorities say was a $3.2 million business loan scheme.
Ronald Gene Morgan, 60, now free on his own recognizance, is facing 13 wire fraud counts in the scheme, which occurred between March 2009 and April 2011, according to his federal indictment.
The indictment alleges Morgan unlawfully took hundreds of thousands of dollars in fees from people who thought they were getting help in obtaining loans for various business ventures.
Morgan used the fees for his own personal travel and entertainment, according to the indictment.
He is alleged to have carried out the scheme through two companies, Argent Management Assets and Argent Securities.
“The persons who commit these offenses portray themselves as legitimate business persons, when in reality they are nothing more than con artists,” U.S. Attorney Daniel Bogden said Friday.
Federal prosecutors are seeking to recover the $3.2 million from Morgan through criminal forfeiture proceedings.
Contact Jeff German at jgerman@reviewjournal.com or 702-380-8135. Follow @JGermanRJ on Twitter
