Federal Jury in El Paso Convicts Mexican Businessman in Pyramid Scheme

A federal jury in El Paso convicted self-proclaimed licensed investment broker Roberto Trinidad Del Carpio Frescas of carrying out a Ponzi scheme that resulted in an estimated minimum $15 million loss announced United States Attorney Richard L. Durbin, Jr., U.S. Secret Service Special Agent in Charge Lee Dotson and El Paso Police Chief Greg Allen.

Late Friday afternoon, jurors convicted Del Carpio, age 39, of Chihuahua, MX, of 24 counts of wire fraud and ten counts of money laundering.

Evidence presented during trial revealed that the defendant held himself out to have superior knowledge and ability as an investor in stocks, bonds, futures in oil, gas, precious metals and currency.  Though he was not licensed in the state of Texas as a dealer, or registered as an investment adviser, Del Carpio formed several companies in Texas including SMI International Institute Corporation (aka Stock Market Investment), Del Carpio Trading Institute LLC, and one in the Cayman Islands, Del Carpio Holdings, to facilitate his scheme.

From August 2010 until January 2012, Del Carpio conspired with others to collect money from over 100 known investors in Mexico and the United States.  Del Carpio pocketed most all of the funds he collected though he did pay minimal amounts of money to “early” investors as a return on their investment and to encourage his victims to invest more of their money with him.

Del Carpio faces up to 20 years in federal prison for wire fraud and up to ten years in federal prison for money laundering.

Del Carpio has remained in federal custody since his arrest in February 2015.  Sentencing is expected to occur within the next 60 days before United States District Judge David C. Guaderrama in El Paso.

Del Carpio’s co-defendant, 60-year-old David Brian Binder of Pittsburg, PA, is charged by indictment with one count of accessory after the fact and one count of wire fraud.  Binder, who is currently out on bond, is scheduled for jury selection and trial on April 18, 2016, before Judge Guaderrama in El Paso.  Upon conviction, Binder faces up to 20 years in federal prison for wire fraud and up to ten years in federal prison for accessory after the fact.

It is important to note that an indictment is merely a charge and should not be considered as evidence of guilt.  Binder is presumed innocent until proven guilty in a court of law.

If you feel you may have been victimized as a result of the above mentioned scheme, please contact the U.S. Secret Service at (915) 532-2144 or the El Paso Police Department.

This investigation was conducted by agents with the U.S. Secret Service and the El Paso Police Department.  Assistant United States Attorneys Ian Hanna and Stanley Serwatka are prosecuting this case on behalf of the Government.