A California man has been arrested and indicted for allegedly stealing from investors nationwide.
San Diego resident Ethan Joseph Sanchez, age 29, is accused of victimizing investors throughout the United States through a scheme, according to court documents.
An indictment unsealed on October 29, 2025, by the U.S. Attorney’s Office for the Southern District of California charges Sanchez with wire fraud and money laundering for allegedly running an investment fraud scheme that took in at least $6 million from investors since 2022.
🚨SEEKING POTENTIAL VICTIM INFORMATION🚨
— FBI San Diego (@FBISanDiego) November 7, 2025
Ethan Joseph Sanchez was recently arrested for wire fraud and money laundering for allegedly running an investment fraud scheme that took in at least $6 million from investors since 2022. Press Release: https://t.co/qt3pbveNaJ
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Court documents say that Sanchez allegedly solicited loans to his company, BSC Equity Ventures, falsely representing that he would use the loaned money to fund real estate transactions, including purchasing real property and renovating acquired property.
Court documents also allege that Sanchez falsely told investors that he and BSC would use loaned money to build accessory dwelling units (ADUs).
Per the indictment, Sanchez promised high rates of return, including interest of up to 25%, and represented that the loans were backed by specified collateral property and signed personal guarantees. In furtherance of the scheme, Sanchez created and used a fictitious identity under the name "Richard 'Rick' Aguilar."
According to court documents, Sanchez did not use the investor's money as promised. As of February 2025, BSC’s financial accounts received over $6 million from investors, and Sanchez returned to them less than $1.8 million.
"The FBI aggressively investigates financial crimes and fraud schemes of all types, and we have seen investment fraud evolve into previously unimaginable high-dollar criminal deceptions,” said Mark Dargis, special agent in charge of the FBI San Diego Field Office. "Today’s indictment of Ethan Sanchez is another example of the FBI’s relentless pursuit of those individuals who choose to scam unsuspecting investors for their personal profit. FBI San Diego will continue to adapt to the ever-changing illicit financial landscape to protect the communities where we live and serve."
Sanchez was arrested on October 28, 2025, and made his initial appearance the next day. The Honorable Karen S. Crawford ordered Sanchez detained pending trial after a hearing on November 6, 2025. Sanchez’s next hearing is scheduled for November 21, 2025.
Anyone who may have information relevant to the investigation is encouraged to contact the investigation team at BSCEquityVictims@fbi.gov.
If you or someone you know may be a victim of Sanchez or his company, BSC Equity Ventures, visit fbi.gov/BSCEquityVictims to submit a confidential victim information form.
Sanchez faces a maximum of 20 years in federal prison, where there is no parole.
Last week, the San Diego Elder Justice Task Force arrested 19 people for allegedly scamming $40 million from US seniors.