A California man was arrested for allegedly stealing more than $500,000 from victims through a cannabis investment scam.
Keinyatey Deboros Chambers, 49, of Sacramento, had targeted his victims between December 2017 and March 2026, according to the California Attorney General’s Office.
Chambers is accused of lying to victims by telling them he was involved in the cannabis industry. He would meet his victims at casinos, bars and restaurants throughout California.
He eventually convinced the victims to invest in his nonexistent cannabis company and reportedly told them that they would receive very high returns within days or weeks, court documents said.
However, instead of investing the money, prosecutors said, “He stole it and used it to finance his personal life, spent it at casinos, or paid his associates.”
He would allegedly pressure his victims to find and recruit more people who could invest in his business. In total, Chambers is accused of stealing more than $500,000 through this scheme.
He was arrested and on May 22, 2026, prosecutors announced he was charged with 10 counts of wire fraud for an investment scheme.
If convicted, Chambers faces up to 20 years in prison and a $250,000 fine on each count.
Anyone who may be a victim or has additional information on the case is advised to contact their local FBI office.
The case was investigated by the Federal Bureau of Investigation (FBI) and the California Department of Justice’s Bureau of Gambling Control. Assistant U.S. Attorney Jessica Delaney is prosecuting the case.
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