SAN DIEGO, CA – A San Diego man has been indicted for allegedly running a multimillion-dollar investment scheme that defrauded investors across the United States.
According to the U.S. Attorney’s Office for the Southern District of California, 29-year-old Ethan Joseph Sanchez was charged with wire fraud and money laundering following an extensive investigation by the FBI San Diego Field Office. Court documents allege that since 2022, Sanchez solicited more than $6 million from investors through his company, BSC Equity Ventures, by falsely claiming the funds would be used for real estate projects, including property purchases, renovations, and construction of accessory dwelling units.
Prosecutors say Sanchez promised returns of up to 25 percent, falsely stating that the investments were secured by collateral property and backed by personal guarantees. He also allegedly used a fictitious identity, “Richard ‘Rick’ Aguilar,” to further the scheme. Investigators determined that Sanchez returned less than $1.8 million of the more than $6 million collected.
Sanchez was arrested on October 28, 2025, and detained pending trial after a court hearing on November 6. His next appearance is scheduled for November 21, 2025.
The FBI encourages anyone who may have been affected to contact investigators at BSCEquityVictims@fbi.gov or visit fbi.gov/BSCEquityVictims to submit a confidential victim form.
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