Ex-1st Million Exec’s Ponzi Scheme Convictions Withstand Appeal

A former 1st Million executive accused of defrauding more than 1,000 investors between 2017 and 2019 lost his appeal to undo convictions for conspiracy, wire fraud, and securities fraud.

Arley Ray Johnson raised six arguments challenging the fairness of his trial but the US Court of Appeals for the Fourth Circuit found no reversible error and affirmed the convictions in an unpublished decision Wednesday.

Among other things, Johnson had challenged the district court’s admission of a newspaper article stating that 1st Million’s CEO, Dennis Jali, was “accused of ripping off investors” to show he would have known about what Jali ...