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Investors sue Las Vegas lawyer embroiled in $300M Ponzi scam

March 22, 2022 GMT

LAS VEGAS (AP) — A Las Vegas attorney who was shot and wounded before his arrest by FBI agents for heading a $300 million Ponzi scheme is facing a class action lawsuit.

The Las Vegas Review-Journal reported Monday that several investors who say they lost tens of thousands of dollars are suing Matthew Beasley.

In the suit, the plaintiffs alleged they were persuaded to invest in a company that gave short-term funding to people who had settled personal injury cases. J&J Consulting assured investors “10% to 20% returns paid every couple of months.”

The scheme goes back to 2017, according to the suit. Beasley is accused of manipulating the funds through a Wells Fargo bank account and soliciting investors with a co-conspirator who served as the president of the company.

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Wells Fargo has also been named as a defendant.

The suit did not specify damages being sought.

Beasley, 49, pleaded not guilty earlier this month to a charge of assault on a federal officer following a standoff at his home.

Beasley’s defense attorney in that case, Robert Draskovich, did not immediately respond to a email message seeking comment on the lawsuit Tuesday.

When FBI agents raided Beasley’s home March 3, acting U.S. Attorney Christopher Chiou said that Beasley stepped into view behind his glass front door pointing a gun at own head. But then he pointed it at the agents in a sweeping motion — causing one or more of them to shoot.

A four-hour standoff with FBI negotiators followed. Prosecutors say Beasley “repeatedly confessed” to his involvement in the investment scheme.