The IRS-CI and FBI seek additional unidentified victims of Sowerby's investment fraud schemes after third indictment Date: December 19, 2023 Contact: newsroom@ci.irs.gov On Tuesday, a federal grand jury in Phoenix returned a 50-count indictment against Jeremie Sowerby, of Fountain Hills, for wire fraud and transactional money laundering. The indictment alleges that Sowerby scammed at least 150 victims out of millions of dollars in a cryptocurrency scheme known as Dunamis Global Technologies. Sowerby marketed Dunamis as a company that sold cryptocurrency mining machines to be hosted in Dunamis warehouse facilities in Lakeside and Tempe, which he falsely claimed to own. Sowerby informed victim-investors that they were purchasing cryptocurrency mining machines with unique serial numbers associated with each victim's cryptocurrency wallet. In reality, Sowerby directed most of the victim funds to accounts under his control. Any "earnings" were directed to a Dunamis wallet controlled by Sowerby, and victims were never able to access their invested money or any purported profits. Instead, Sowerby stole the money and used it for himself, including purchasing Teslas, residential properties, cryptocurrency, and other expensive items. Sowerby was previously charged, along with co-defendant Luis Ortega, in a 55-count indictment alleging that Sowerby and Ortega scammed hundreds of victims out of millions of dollars in a cryptocurrency investment scheme under the guise of three entities: Now Mining, VIP Mining, and Millennium Technologies. Sowerby was also previously charged for defrauding an Arizona physician through what he claimed to be an exclusive hedge fund investment opportunity called "Justice Capital." Both cases remain pending. A conviction for wire fraud carries a maximum penalty of 20 years' imprisonment and a fine of up to $250,000, or both. A conviction for transactional money laundering carries a maximum penalty of 10 years' imprisonment and a fine of up to $250,000, or both. An indictment is simply a method by which a person is charged with criminal activity and raises no inference of guilt. An individual is presumed innocent until evidence is presented to a jury that establishes guilt beyond a reasonable doubt. The Internal Revenue Service (IRS)-Criminal Investigation and the Federal Bureau of Investigation are conducting the investigation in this case. The United States Attorney's Office, District of Arizona, Phoenix, is handling the prosecution. The IRS-CI and FBI believe that additional victims of Sowerby's investment fraud schemes remain unidentified. Anyone who believes they were defrauded by the defendant in this case should contact the Victim Witness Section at the U.S. Attorney's Office for the District of Arizona or fill out the questionnaire.
