Jacques Poujade has been sentenced to 63 months in prison for defrauding investors out of “nearly $6.2 million” dollars.

Poujade’s Ponzi scheme was run through LendPlus Holdings, which fed into Tri-Emerald Financial Group.

Poujade (right) illegally obtained $915,000 through his Ponzi scheme. Another investor lost $5.2 million after Poujade plied him with “a series of lies”.

Poujade falsely promised the victim that Tri-Emerald was a pre-IPO opportunity that would provide high returns when the company soon went public on Nasdaq.

He further lied to the victim by saying one investment bank “was super excited about moving forward” and estimated that Tri-Emerald would “be a billion dollar company in under 16 months.

Following an indictment Poujade
pled guilty
to one count of securities fraud in July 2023.

His
sentencing
took place on October 30th;

The owner of an Orange County real estate finance business was sentenced today to 63 months in federal prison.

Jacques Poujade, 63, of Irvine, was sentenced by United States District Judge Mark C. Scarsi, who also ordered him to pay $6,170,600 in restitution.

BehindMLM came across Poujade in 2019 as an 
accomplice of Jason Cardiff
.

Jason Cardiff ran the short-lived 
RengaLife
MLM company, which the FTC
sued for consumer fraud
in 2018.

As per a June 2019 FTC filing, Poujade “transferred, loaned, concealed, and disbursed Cardiff assets.”

The FTC ultimately
won the case
but, due to the
AMG Supreme Court decision
, no monetary penalties were ordered.

🤖 Quick Answer

What was Jacques Poujade sentenced for?
Jacques Poujade received a 63-month prison sentence for operating a Ponzi scheme through LendPlus Holdings and Tri-Emerald Financial Group, defrauding investors of approximately $6.2 million. He falsely promised high returns from a pre-IPO investment opportunity and misrepresented company valuations and banker support.

How did Poujade commit fraud?
Poujade deceived investors by making false promises about Tri-Emerald being a pre-IPO opportunity with guaranteed high returns upon Nasdaq listing. He lied about investment bank interest and fabricated claims that the company would reach billion-dollar valuation within 16 months, extracting millions illegally.

What were the financial losses from Poujade's scheme?
The fraud resulted in total losses of nearly $6.2 million. One investor alone lost

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