The North Texas couple behind a multimillion-dollar pyramid scheme who targeted the African-American community has been found guilty by a federal jury in Sherman.
LaShonda and Marlon Moore were each convicted of one count of conspiracy to commit wire fraud, five counts of wire fraud and three counts of money laundering, according to a statement by the U.S. Department of Justice. Each faces a maximum penalty of 20 years on each of the conspiracy and wire fraud counts and a decade on each money laundering count. The scam took place during the pandemic.
The couple “orchestrated a lucrative pyramid scheme with the sole aim of enriching themselves,” said Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division. “Through lies and deceit, the defendants recruited vulnerable people and defrauded them of millions of dollars.”
The Moores used a reality TV appearance and a “polished image” to build trust, said Special Agent in Charge Christopher Altemus, IRS Criminal Investigation’s Dallas Field Office, in the statement.
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“This scheme deliberately targeted the African American community, exploiting cultural trust and community ties,” Altemus said.
The Moores’ exploits aren’t unknown in Texas, and even beyond. In 2023, the state attorney general’s office said there was a final judgment and permanent injunction issued in the civil case against DJ ASAP, a.k.a. Marlon Moore, and LaShonda Moore, for operating the illegal pyramid scheme. In addition, the couple was featured on an episode of American Greed.
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The pair co-founded and ran BINT, known as “Blessings in No Time,” an illegal chain-referral pyramid scheme that targeted victims from June 2020 to June 2021, according to court documents and evidence presented at trial, the DOJ statement said.
BINT, through weekly live-stream video broadcasts, targeted and recruited victims, who were falsely promised that participants would earn 800% returns on each $1,400 investment. They also were guaranteed a refund if the participant was unsatisfied with BINT.
The Moores falsely presented BINT as a means for new participants to help other members of their own community, the statement said.
The scheme affected more than 10,000 people across the country and inflicted more than $25 million in victim losses, the statement said.