September 28, 2026 – OAKLAND, CA – Edwin Emmett Lickiss, Jr., who pleaded guilty to one count of wire fraud 
and one count of money laundering in connection with a decades-long Ponzi scheme, was sentenced on Wednesday, September 16, 2026, to nine years in federal prison. U.S. District Judge Jon S. Tigar imposed the sentence.
Lickiss, 78, of Danville, California, admitted that he defrauded at least 93 victims of over $9.5 million from 1998 through September 2024. As part of the scheme, Lickiss said that he would invest victims’ money in exclusive, tax-free bonds that offered rates of return up to 30%. Lickiss also claimed that members of his own family had invested in the bonds, that he charged no investment fees because he had already profited so substantially, and that investors could redeem their money at any time.
In fact, the bonds did not exist. Lickiss funneled money from later victims to pay earlier investors, consistent with a Ponzi scheme. He also siphoned victim funds to pay personal expenses, including cash withdrawals, home renovations, travel, and payments on vehicles, mortgages, and personal credit cards.
The Financial Industry Regulatory Authority (FINRA) had issued an order barring Lickiss from engaging in any broker-related business from August 18, 2014, through December 17, 2014. Despite the order, Lickiss continued to fraudulently solicit and obtain investments from victims during that period.
United States Attorney Craig H. Missakian, FBI Special Agent in Charge Scott Schelble, and IRS Criminal Investigation (IRS-CI) San Francisco Field Office Acting Special Agent in Charge David Lowe made the announcement. The U.S. Securities and Exchange Commission has also filed a civil enforcement action against Lickiss in the Northern District of California.
The case is being prosecuted by Assistant U.S. Attorney Ben Wolinsky of the Illicit Finance and Money Laundering Section, with the assistance of Lynette Dixon. The prosecution is the result of an investigation by the FBI and IRS-CI. The U.S. Attorney’s Office thanks the Atlanta Regional Office of the SEC for its assistance in the investigation.
Source: DOJ Release
