Brandon Benson Indicted on Fraud Charges After Allegedly Perpetrating a Ponzi Scheme Involving African Oil Deals

Brandon Benson, who lived in Salt Lake City, Utah and Orange County, California, defrauded investors by encouraging them to invest in a Ponzi scheme involving Nigerian “oil deals,” according to an indictment issued by a federal grand jury.

Benson informed investors they could profit on deals involving oil purchases in Africa that would later be sold at a higher price someplace else in Africa, according to the indictment. Benson promised returns of 40 to 120 percent a year, according to the indictment.

Benson used investors’ money to make payments to other investors and also used investors’ money for personal expenses and to support his lavish lifestyle, according to the indictment.

Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1225 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.