Cases by state
Ponzi schemes in Rhode Island
7 cases announced 2015–2025, involving about $54M in reported investor money. Most common types: lending & cash advance, real estate and crypto & digital assets. Listed by where the main defendant was based.
The largest by reported amount: Thomas Huling ($14M, 2019). Charges are allegations unless a court has entered a conviction or judgment.
Pitch phrases seen in these cases
- “steep returns on short-term loans secured by real estate”
- “high rates of return”
- “roll over purported gains”
- “promised six figure salaries and benefits”
- “substantial returns - with little or no risk - within a short period of time”
- “had been a success”
- “purported to yield an approximat[e] 30% return after 16 months”
- “the return on their investment”
Cases
| Date | Case | Location | Industry | Amount |
|---|---|---|---|---|
| May 15, 2025 | Anchor State Capital LLC, Anchor State Properties LLC Christopher Aubin, Ashley Corcoran |
Providence, RI | Lending & cash advance | $2.5M |
| Oct 31, 2024 | Joseph Giuttari | RI | Lending & cash advance | $1.5M |
| Jan 26, 2021 | Jeremy Spence (aka Coin Signals) | Bristol, RI | Crypto & digital assets | $5M |
| Feb 26, 2020 | MNB Monique Brady |
East Greenwich, RI | Real estate | $10M |
| Jun 17, 2019 | Downing Partners LLC David Wagner |
East Greenwich, RI | Real estate | $10M |
| Apr 10, 2019 | Thomas Huling | West Warwick, RI | Trading, forex & commodities | $14M |
| May 7, 2015 | ClearPath Wealth Management LLC Patrick Churchville |
Barrington, RI | Investment funds & advisory | $11M |