Ventura County man ordered to pay $1 million to 111 victims of investment scam
A Ventura County man who pled guilty to orchestrating a sports products investment scheme was ordered to pay more than $1 million to 111 victims.
Gilbert Infante admitted to 13 felony counts of securities fraud and identity theft and was sentenced to eight years in prison, the Ventura County District Attorney’s Office announced on July 14.
He persuaded dozens of people — most of whom were Ventura County residents — to invest in the development and marketing of products that he falsely claimed were licensed with major professional sports organizations, according to investigators. Infante forged business agreements to support his scheme.
He conducted the scam from 2006 to 2016, according to an investigation by the Federal Bureau of Investigation and the Ventura County District Attorney’s Bureau of Investigation.
• Contact Alex Kacik at akacik@pacbiztimes.com.
