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El Paso Man Admits Guilt in NBA Game Investment Fraud Scheme

KVIA••Gabrielle Lopez
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Timothy France Johnson, a 63-year-old resident of El Paso, has pleaded guilty to seven counts of wire fraud related to a Ponzi scheme that misappropriated funds intended for promoting NBA preseason games. From February 2009 to May 2020, Johnson solicited investments under false pretenses, claiming he would use the money for venue acquisition and marketing. Instead, funds were diverted to pay earlier investors or used for personal expenses. Victims reported significant losses, with one individual investing $100,000 based on promises of high returns and zero risk. Johnson faces a potential 20-year sentence for each charge, with a federal judge set to determine his fate.

Key Details: • Johnson solicited investments from February 2009 to May 2020. • Victims included individuals who invested amounts ranging from $15,000 to $100,000. • Johnson faces up to 20 years in prison for each of the seven counts of wire fraud. • The FBI is actively investigating the case.

el-paso investments nba wire-fraud ponzi-scheme

People & Organizations

El PasoFBITimothy France JohnsonBOLO Sports & Entertainment LLC

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