By Redacción
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District Attorney Erik Nasarenko announced that George Ronald Russell (DOB 11/11/56), formerly of Thousand Oaks, has been sentenced to four years in state prison.
In October 2024, after jury selection began, Russell pled guilty to 18 felony charges stemming from an investment fraud scheme. These charges included grand theft from an elder, grand theft exceeding $500,000, attempted grand theft, and money laundering. As part of his plea agreement, Russell paid $600,000 in restitution to his victims. He was also convicted of being a felon in possession of firearms and ammunition.
The case was prosecuted by Senior Deputy District Attorney Howard Wise, a member of the Ventura County District Attorney’s Office Special Prosecutions Fraud and Technology Crimes Unit.
“Mr. Russell didn’t just steal money; he destroyed his victims’ health, relationships, and trust in others,” Wise said. “While his actions warranted a much longer prison sentence, all parties recognized that ensuring significant and immediate restitution for the victims was a priority.”
Russell’s fraudulent scheme revolved around the copyright for a pamphlet he authored, The DUI Nightmare, which he claimed was designed to reduce incidents of drunk driving. He convinced his victims to provide loans under false pretenses, including claims that Walmart and other large investors had agreed to purchase the pamphlet for millions of dollars. Russell alleged that the funds were needed to buy out other investors and promised substantial returns. To bolster his deception, he staged fake phone calls and text messages with Walmart executives and even forged contracts with Walmart to lend credibility to his claims.
Between 2016 and 2018, Russell defrauded his victims of approximately $1.1 million. He repeatedly resold the same copyright, offered fraudulent collateral, and misrepresented ownership of properties and other assets, many of which were already promised to other individuals. His criminal activities went undetected for years, as they were initially believed to be civil disputes. The Ventura County District Attorney’s Office launched a criminal investigation in 2021, uncovering widespread fraud. Search warrants executed at Russell’s home and on his bank accounts in June 2021 revealed extensive documentation of his fraudulent activities and identified additional victims.
The case was investigated by the Ventura County District Attorney’s Bureau of Investigation, Major Fraud Unit, and High-Tech Task Force. At sentencing, the court ordered Russell to pay $1,196,617 in total restitution, accounting for the remaining stolen funds and accrued interest from the time of his thefts.
