Austin-Area Man Sentenced To 48 Years For Fraud And Money Laundering

SHERMAN, Texas – The Eastern District of Texas sentenced a Leander man to 48 years in federal prison for fraud and money laundering violations.

James Clark Nix, 73, was found guilty by a jury on Apr. 21, 2022, of conspiracy to commit wire fraud, wire fraud, money laundering, and aiding and abetting. Nix was sentenced to 576 months in federal prison by U.S. District Judge Amos L. Mazzant on Sep. 22, 2022.

According to information presented at trial, James Nix and his son, Bradley Nix, used their businesses, AMIG and NECO, to defraud victim investors of at least $6 million under the false promise of small business investments and high-interest returns of up to ten percent. Once in possession of the fraudulent funds, James Nix used the money for various expenses such as luxury homes, hotels, and vehicles. During the investigation, investigators lawfully seized a Maserati and Land Rover tied to James Nix’s fraudulent conduct. As a result, the jury convicted James Nix of conspiracy, wire fraud, and money laundering.

“James Nix conned hard-working people out of their life savings to fund his luxurious lifestyle,” said U.S. Attorney Brit Featherston. “Nix left a trail of heartache and destruction through each of his victims, and this sentence ensures that he will never victimize another person again.”

“Mr. Nix’s conduct was uniquely sinister and deceptive. First, he obtained the trust of his clients, many of whom were his friends, over decades. Then, he manipulated this trust to obtain their life savings and 401ks while promising them good investments that would provide them with a comfortable retirement. In reality, Mr. Nix was using this money to operate a Ponzi scheme and fund a life of luxury. Ultimately, Mr. Nix’s lies and greed destroyed his clients’ financial futures and deprived them of their hard-earned retirement,” said FBI Dallas Special Agent in Charge Matthew DeSarno.

“Investment fraud is a pervasive threat that affects all ages and demographics. Therefore, we encourage the public to conduct due diligence before investing with an individual or business and review FBI online resources on business and investment fraud scams at fbi.gov.”

The Federal Bureau of Investigation and the Internal Revenue Service-Criminal Investigation investigated this case, and Assistant U.S. Attorneys from the Eastern District of Texas prosecuted it.