{"id":137,"date":"2026-05-21T20:09:32","date_gmt":"2026-05-21T20:09:32","guid":{"rendered":"https:\/\/nextcitydigest.com\/?p=137"},"modified":"2026-05-21T20:09:32","modified_gmt":"2026-05-21T20:09:32","slug":"danville-man-convicted-of-wire-fraud-money-laundering-for-defrauding-investors-of-9-5-million","status":"publish","type":"post","link":"https:\/\/nextcitydigest.com\/?p=137","title":{"rendered":"Danville man convicted of wire fraud, money laundering for defrauding investors of $9.5 million"},"content":{"rendered":"
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OAKLAND \u2014 A Danville man pleaded guilty in federal court Wednesday to running a Ponzi scheme that defrauded investors out of a combined $9.5 million over more than 20 years, prosectors said.<\/p>\n

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Edwin Emmett Lickiss, Jr., 78, was convicted of one count of wire fraud and one count of money laundering for the scheme, which he operated from 1998 to 2024, according to a news release from the U.S. Attorney\u2019s Office for the Northern District of California.<\/p>\n

Lickiss made false claims to more than 93 investors that he would place their money into \u201cexclusive, safe, tax-free bonds\u201d that had the potential to yield returns of more than 20%, prosecutors said. He also issued fake promissory notes on the letterhead of the firm where he formerly worked, Foundation Financial Group.<\/p>\n

Instead, Lickiss paid back earlier investors with the funds entrusted to him by newer investors, prosecutors said, following the classic Ponzi scheme blueprint.<\/p>\n

He also used the funds paid to him for personal uses, including renovations to his home, travel expenses, the purchase of cars and more, prosecutors added.<\/p>\n

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Lickiss is also facing a civil enforcement action that was filed by the U.S. Securities and Exchange Commission in the Northern District of California.<\/p>\n

The case, which was prosecuted by Assistant U.S. Attorney Ben Wolinsky with assistance from Lynette Dixon, resulted from an investigation by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation. The SEC\u2019s Atlanta Office also assisted.<\/p>\n

Lickiss will next appear in court on Aug. 28 in front of U.S. District Judge Jon S. Tigar for his sentencing hearing, where he could face up to 20 years in prison for the wire fraud conviction and up to 10 years in prison for the money laundering conviction. Each count carries a $250,000 fine.<\/p>\n

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The man ran his Ponzi scheme for more than 20 years, impacting more than 90 investors. <\/p>\n","protected":false},"author":1,"featured_media":136,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nDanville man convicted of wire fraud, money laundering for defrauding investors of $9.5 million - Next City Digest<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nextcitydigest.com\/?p=137\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Danville man convicted of wire fraud, money laundering for defrauding investors of $9.5 million - Next City Digest\" \/>\n<meta property=\"og:description\" content=\"The man ran his Ponzi scheme for more than 20 years, impacting more than 90 investors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nextcitydigest.com\/?p=137\" \/>\n<meta property=\"og:site_name\" content=\"Next City Digest\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-21T20:09:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nextcitydigest.com\/wp-content\/uploads\/2026\/05\/40f3d4a83557f92a3768cd5722b96d0d.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"851\" \/>\n\t<meta property=\"og:image:height\" content=\"564\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/nextcitydigest.com\\\/?p=137#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/nextcitydigest.com\\\/?p=137\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/nextcitydigest.com\\\/#\\\/schema\\\/person\\\/13065d40d633843429ac57d4e5c06f9b\"},\"headline\":\"Danville man convicted of wire fraud, money laundering for defrauding investors of $9.5 million\",\"datePublished\":\"2026-05-21T20:09:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/nextcitydigest.com\\\/?p=137\"},\"wordCount\":344,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/nextcitydigest.com\\\/?p=137#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/nextcitydigest.com\\\/wp-content\\\/uploads\\\/2026\\\/05\\\/40f3d4a83557f92a3768cd5722b96d0d.webp\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/nextcitydigest.com\\\/?p=137#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/nextcitydigest.com\\\/?p=137\",\"url\":\"https:\\\/\\\/nextcitydigest.com\\\/?p=137\",\"name\":\"Danville man convicted of wire fraud, money laundering for defrauding investors of $9.5 million - 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