BEAUMONT, Texas – A federal inmate has been convicted of running a $1.4 million investment fraud scheme while serving a prior fraud sentence in Beaumont.
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What we know:
A jury found Riley Graham, 60, also known as David Drake, guilty of conspiring to commit wire fraud following a five-day trial, according to the U.S. Department of Justice.
Dig deeper:
Authorities said Graham was already behind bars at the Bureau of Prisons Federal Correctional Complex in Beaumont when he devised the scheme.
His latest scheme took place from June 2019 to October 2024 and involved defrauding a Beaumont pastor, the pastor’s family, and the owners of a North Carolina construction business.
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Officials said Graham also conducted a second scheme to defraud one of his fellow inmates and the inmate’s family.
The money the victims lost totaled over $1.4 million, according to the DOJ.
What we don’t know:
Authorities did not provide any further details on how Graham carried out these schemes.
What’s next:
A sentencing date has not yet been scheduled. The DOJ said Graham could potentially spend up to 30 additional years in prison for his latest crime.
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