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Austin-Area Man Guilty of Federal Fraud and Money Laundering Violations | USAO-EDTX

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Austin-Area Man Guilty of Federal Fraud and Money Laundering Violations | USAO-EDTX

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SHERMAN, Texas – A Leander man has been found guilty of federal fraud and money laundering violations in the Eastern District of Texas, announced U.S. Attorney Brit Featherston today.

James Clark Nix, 73, was found guilty by a jury of conspiracy to commit wire fraud, wire fraud, money laundering, and aiding and abetting.  The verdict was reached today following a four-day trial before U.S. District Judge Amos L. Mazzant.

According to information presented at trial, James Nix and his son, Bradley Nix, used their businesses, AMIG and NECO, to defraud victim investors of at least $6 million, under the false promise of small business investments and high interest returns of up to 10 percent. Once in possession of the fraudulent funds, James Nix used the money for various expenses such as luxury homes, hotels, and vehicles. During the investigation, investigators lawfully seized a Maserati and Land Rover that were tied to James Nix’s fraudulent conduct. The jury convicted James Nix on all counts – conspiracy, wire fraud, and money laundering. 

“This case represents our district’s continued efforts to root out and prosecute those persons who scam and victimize well-meaning investors.  said U.S. Attorney Brit Featherston.  “Although the case was complex and difficult to investigate and prosecute, our investigative partners and prosecution team rose to the occasion.  The excellent investigation and prosecution provided ease to the jury to deliberate only an hour…

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