NEW MEXICO (KRQE) – An Arizona man was sentenced to 30 years in prison for orchestrating a Ponzi-style investment fraud scheme that defrauded more than 100 victims, many of whom were Northern New Mexican residents, out of millions of dollars, according to the U.S. Attorney’s Office for the District of New Mexico.

John Lopez, 74, solicited investments through his company, Personal Money Management Company (PMMCO), from 2014 to 2022, falsely claiming to have developed a proprietary algorithm that generated above-market returns. The DOJ said he instead used client funds to purchase precious metals and to make Ponzi-style payouts to earlier investors, disbursing $6.1 million to maintain the illusion of legitimate investment returns.

Lopez collected approximately $24 million from investors an

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