MACOMB COUNTY, Mich. – A man from Macomb County is accused of scamming investors out of hundreds of thousands of dollars so he could use the money for his own personal gain.
Jasen Alan Barbour, 36, is accused of wire fraud in a criminal complaint that was filed Jan. 17.
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Details of scheme
Officials said Barbour devised a scheme to defraud investors from March 2017 through October 2018. His goal was to receive money from them and use that money for his own personal benefit, according to the complaint.
Barbour would lie to potential investors or lenders about purchase orders that he claimed to have received from customers, officials said. He would then ask for funds to obtain the materials and fulfill the purchase orders, court records show.
At times, Barbour would alter small purchase agreements with customers by inflating the quantity and value of the products he ordered, according to authorities. He showed the inflated numbers to potential investors and lenders to convince them that their investments and loans would be secure, the complaint says.
Barbour entered into subsequent promissory notes with investors, promising to pay them back with interest. That helped him attract other investors, officials said.
He’s accused of soliciting additional money from newer investors so he could “stave off collection efforts and potential reports to law enforcement” by making partial payments to prior investors.
In the criminal complaint, officials said Barbour received the following amounts of money from five different people:
- “SB”: $247,500
- “DL”: $247,500
- “CT”: $400,000
- “RP”: $354,050
- “RM”: Between $25,000 and $90,262
Barbour caused the wire transfer of $100,000 from a bank account in the name of the third investor above to a bank account he controlled, therefore transmitting signals in interstate commerce, the complaint alleges.
