London Daily

Focus on the big picture.
Friday, Aug 22, 2025

US fraudster who used Cayman company sentenced to 262 months

US fraudster who used Cayman company sentenced to 262 months

A US fraudster, who used a Cayman Islands bank account and employed nominee directors for his offshore entities in Cayman, the British Virgin Islands and Nevis to conceal his income, has been sentenced to 262 months in prison for wire fraud and 60 months’ imprisonment for tax evasion.

The sentences will run concurrently.

Treyton Thomas, 62, a resident of Naples, Florida, was charged in November 2016 in a 21-count indictment with wire fraud, bank fraud and tax evasion. In October 2018, he pled guilty to wire fraud, affecting a financial institution and income tax evasion.

Thomas purported to be a successful Harvard-educated investment adviser for Cayman-incorporated Marbury Advisors. He was charged with defrauding his father’s used car warranty company, several of its customers, his wife, and his father-in-law.

Thomas claimed he was conservatively investing their money in US Treasury Bills, when instead he lost about US$4.5 million in risky trades in the commodities and futures market. To cover up the losses, Thomas provided the victims and various financial institutions with false information and fabricated bank and brokerage statements. He used the same falsified records to defraud US financial institutions out of approximately US$1.9 million in loans.

In addition to losing the victims’ money in risky trades, Thomas was charged with spending more than US$1.6 million of their funds for personal expenses.

Thomas hid his income from the Internal Revenue Service by concealing his interest in foreign corporations and using offshore bank accounts to pay for personal expenses, the Department of Justice said.

The Eastern District Court of North Carolina ordered Thomas to pay approximately US$7.3 million in restitution to the victims of the investment and bank fraud schemes, the Internal Revenue Service and the United States Attorney’s Office and to forfeit an additional US$7.3 million to the United States.

Thomas who was charged with tax evasion in a second indictment in 2018, failed to file income tax returns or pay taxes for two decades, according to court records.

Nominee directors opened and managed bank accounts, which Thomas used to move client funds in and out of the US. In addition, he created fake or ‘ghost’ employees to make it appear that he operated a large, successful investment fund. To conceal his own identity, Thomas used aliases or variations of his given name.

Newsletter

Related Articles

0:00
0:00
Close
After 200,000 Orders in 2 Minutes: Xiaomi Accelerates Marketing in Europe
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
Finnish MP Dies by Suicide in Parliament Building
Outrage in the Tennis World After Jannik Sinner’s Withdrawal Storm
William and Kate Are Moving House – and the New Neighbors Were Evicted
Class Action Lawsuit Against Volkswagen: Steering Wheel Switches Cause Accidents
Taylor Swift on the Way to the Super Bowl? All the Clues Stirring Up Fans
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Apple Expands Social Media Presence in China With RedNote Account Ahead of iPhone 17 Launch
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Cambridge Dictionary Adds 'Skibidi,' 'Delulu,' and 'Tradwife' Amid Surge of Online Slang
Bill Barr Testifies No Evidence Implicated Trump in Epstein Case; DOJ Set to Release Records
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
The CEO Who Replaced 80% of Employees for the AI Revolution: "I Would Do It Again"
Emails Worth Billions: How Airlines Generate Huge Profits
Character.ai Bets on Future of AI Companionship
China Ramps Up Tax Crackdown on Overseas Investments
Japanese Office Furniture Maker Expands into Bomb Shelter Market
Intel Shares Surge on Possible U.S. Government Investment
Hurricane Erin Threatens U.S. East Coast with Dangerous Surf
EU Blocks Trade Statement Over Digital Rule Dispute
EU Sends Record Aid as Spain Battles Wildfires
JPMorgan Plans New Canary Wharf Tower
Zelenskyy and his allies say they will press Trump on security guarantees
Beijing is moving into gold and other assets, diversifying away from the dollar
Escalating Clashes in Serbia as Anti-Government Protests Spread Nationwide
The Drought in Britain and the Strange Request from the Government to Delete Old Emails
Category 5 Hurricane in the Caribbean: 'Catastrophic Storm' with Winds of 255 km/h
"No, Thanks": The Mathematical Genius Who Turned Down 1.5 Billion Dollars from Zuckerberg
The surprising hero, the ugly incident, and the criticism despite victory: "Liverpool’s defense exposed in full"
Digital Humans Move Beyond Sci-Fi: From Virtual DJs to AI Customer Agents
YouTube will start using AI to guess your age. If it’s wrong, you’ll have to prove it
×