A Federal Court Extradites Serial Fraudster From Mexico. Then Sentences Him To 4 Years In Prison For Multiple Investment Fraud Scams
Authorities had accused Daniel Thomas Broyles Sr. aka Dan Thomas of running two high-yield investment fraud schemes. They allege that Broyles and his cohorts defrauded elderly and vulnerable victims out of millions of dollars.
Court documents show Broyles ran the fraud scheme through a sham company named Niyato Industries Inc. (Niyato). Broyles conspired with Niyato’s CEO, Robert Leslie Stencil and others to defraud Niyato investors.
Together, Broyles and others others falsely portrayed Niyato as a leader in electric vehicle manufacturing. They also claimed the company converted vehicles to run on compressed natural gas.
In reality, Broyles knew, or intentionally avoided learning that Niyato was merely a sham company. The company lacked any operational facilities or proprietary technology.
Nivato disbursed virtually all investor funds among the co-conspirators.
California Serial Fraudster Runs But He Can’t Hide
In June 2016, after Broyles relocated to Mexico after he learned that federal law enforcement agents were investigating Niyato. Federal prosecutors soon indicted Broyles. Several months later, upon learning of the indictment, Broyles moved to a new address in the state of Querétaro, Mexico. He also began using the alias “Daniel Cruz Torrez” to hide from federal law enforcement agents. He also did this to obstruct the federal government’s prosecution of him.
Broyles also participated in a second high-yield investment fraud involving EarthWater Limited (EarthWater). The serial fraudster then conspired with EarthWater’s CEO, Cengiz Jan Comu in Texas and others to sell EarthWater stock.
Broyles and others made numerous false and misleading representations. The fraudster claimed that EarthWater used the money raised from victim investors to develop and operate the company’s business. However, Broyles and Comu had agreed to use the invested victim funds largely for their personal benefit.
Federal authorities extradited Broyles from Mexico in March 2022. In June 2022, Broyles pleaded guilty to one count of conspiracy to commit mail fraud and wire fraud. He also pleaded guilty to one count of mail fraud and one count of money laundering for the Niyato scam. In addition, he also pleaded guilty to one count of conspiracy to commit mail fraud and wire fraud in connection with the EarthWater fraud.
A federal jury also convicted Stencil following a three-week jury trial. The court sentenced him to 12 years and three months in prison.
Comu and ten other people pleaded guilty and were sentenced to 10 years in prison.
Read More About Serial Fraudsters On MFI-Miami.com.