Richard Patterson, Jr., 44, of Norco, California, was sentenced on Mar. 10 to 68 months in federal prison and ordered to pay $2,030,000 in restitution after pleading guilty to conspiring to commit wire fraud and failing to appear for a court hearing. The sentence was announced by United States Attorney Ken Sorenson.
The case involves an advance payment scheme that targeted more than 15 victims. Patterson and his coconspirators, Dashawn Hill and Judy Ramos, solicited upfront investments ranging from $5,000 to $550,000 by falsely promising risk-free returns of up to 1000 percent. Instead of investing the funds as promised, they used the money for personal expenses including luxury living arrangements and travel.
According to court documents, Patterson adopted the alias “Xavier Carter,” used a fake accent, and claimed foreign nationality while defrauding victims out of more than $2 million. He spent the proceeds on renting a luxury condominium at Ala Moana and purchasing high-end goods.
Patterson failed to appear for two court hearings just before his scheduled trial in October 2024. He stopped communicating with his attorney and fled California while out on bond but was later arrested in the Southern District of California and returned to Hawaii. His absence resulted in a delay of the trial.
Co-defendants Hill and Ramos have also pleaded guilty under plea agreements. Their sentencing hearings are set for June 2 and May 13, respectively. The Federal Bureau of Investigation investigated the case, which was prosecuted by Assistant U.S. Attorney Michael F. Albanese.
The outcome highlights ongoing efforts by law enforcement agencies to address financial crimes targeting individuals through fraudulent investment schemes.
