Date: April 21, 2022 Contact: firstname.lastname@example.org Sherman, TX — A Leander man has been found guilty of federal fraud and money laundering violations in the Eastern District of Texas, announced U.S. Attorney Brit Featherston today. James Clark Nix was found guilty by a jury of conspiracy to commit wire fraud, wire fraud, money laundering, and aiding and abetting. The verdict was reached today following a four-day trial before U.S. District Judge Amos L. Mazzant. According to information presented at trial, James Nix and his son, Bradley Nix, used their businesses, AMIG and NECO, to defraud victim investors of at least $6 million, under the false promise of small business investments and high interest returns of up to 10 percent. Once in possession of the fraudulent funds, James Nix used the money for various expenses such as luxury homes, hotels, and vehicles. During the investigation, investigators lawfully seized a Maserati and Land Rover that were tied to James Nix's fraudulent conduct. The jury convicted James Nix on all counts - conspiracy, wire fraud, and money laundering. "This case represents our district's continued efforts to root out and prosecute those persons who scam and victimize well-meaning investors. said U.S. Attorney Brit Featherston. "Although the case was complex and difficult to investigate and prosecute, our investigative partners and prosecution team rose to the occasion. The excellent investigation and prosecution provided ease to the jury to deliberate only an hour before finding the defendant guilty." "Under the guise of an established, professional tax business Mr. Nix solicited investments from individuals and secured their trust. In return, the investors found their 401(k) and bank accounts empty, and little hope in recovering their funds. The defendant's Ponzi scheme stole a lifetime of financial resources from multiple victims, and turned them into lavish homes, cash and cars for his personal benefit," said Dallas FBI Special Agent in Charge Matthew J. DeSarno. "The FBI will continue to work with our partners to investigate financially devastating schemes and seek justice for victims of fraud." Nix was indicted by a federal grand jury on Nov. 19, 2020. He faces up to 20 years in federal prison. The maximum statutory sentence prescribed by Congress is provided here for information purposes, as the sentencing will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the U.S. Probation Office. This case was investigated by the Internal Revenue Service-Criminal Investigation and the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorneys from the Eastern District of Texas.