Jacques Poujade has been sentenced to 63 months in prison for defrauding investors out of “nearly $6.2 million” dollars.

Poujade’s Ponzi scheme was run through LendPlus Holdings, which fed into Tri-Emerald Financial Group.

Poujade (right) illegally obtained $915,000 through his Ponzi scheme. Another investor lost $5.2 million after Poujade plied him with “a series of lies”.

Poujade falsely promised the victim that Tri-Emerald was a pre-IPO opportunity that would provide high returns when the company soon went public on Nasdaq.

He further lied to the victim by saying one investment bank “was super excited about moving forward” and estimated that Tri-Emerald would “be a billion dollar company in under 16 months.

Following an indictment Poujade pled guilty to one count of securities fraud in July 2023.

His sentencing took place on October 30th;

The owner of an Orange County real estate finance business was sentenced today to 63 months in federal prison.

Jacques Poujade, 63, of Irvine, was sentenced by United States District Judge Mark C. Scarsi, who also ordered him to pay $6,170,600 in restitution.

BehindMLM came across Poujade in 2019 as an accomplice of Jason Cardiff.

Jason Cardiff ran the short-lived RengaLife MLM company, which the FTC sued for consumer fraud in 2018.

As per a June 2019 FTC filing, Poujade “transferred, loaned, concealed, and disbursed Cardiff assets.”

The FTC ultimately won the case but, due to the AMG Supreme Court decision, no monetary penalties were ordered.