Switch to ADA Accessible Theme
Miami Investment Fraud Attorney
2655 South Le Jeune Road
Suite 1108
Coral Gables, FL 33134

Business Owner from Orlando Pleads Guilty to Criminal Charges in $57 Million Investment Fraud Case

On May 7th, 2024, the United States District Court for the Northern District of Florida announced that Avinash Singh—a 42-year-old man from Orlando, Florida—has entered a guilty plea for two counts of wire fraud and three counts of money laundering. Mr. Singh reportedly played a key role in a $57 million investment fraud scheme that victimized approximately 1,100 investors. Below, our Florida investment fraud lawyer discusses the particular allegations and charges in this case in more comprehensive detail.

The Investment Fraud Scheme: $57 Million from 1,100 Investors (2013 to 2020) 

According to court documents, Avinash Singh orchestrated a vast investment fraud. Using his company called Highrise Advantage, LLC, Mr. Singh was convicted of operating a $57 million fraud scheme that deceived more than 1,100 investors. The fraud occurred between 2013 and 2020.

It was centered around retail forex contracts. A forex contract, often referred to as a foreign exchange contract, is an agreement to buy or sell a specific amount of currency at a predetermined price on a set date in the future. These contracts are used primarily to hedge against currency fluctuations but can also be used for speculative purposes.

However, the indictment in this case emphasized that Mr. Singh invested falsely representing his track record and success as a forex trader. In reality, he invested less than five percent of the funds solicited from investors. The funds were largely funneled into Ponzi-type payments and siphoned off to cover personal expenses.

Criminal Conviction Obtained Against Ringleader (Orlando Businessman Avinash Singh) 

Avinash Singh faced both criminal and civil legal action. He was. He was indicted on multiple counts of wire fraud and money laundering—facing up to 20 years in prison for each count of wire fraud and 10 years for each money laundering charge. Mr. Singh pled guilty to the charges and he is expected to face sentencing later this year.

 Investigator Findings: The Forex Investment Fraud Scheme Was a Typical Ponzi Scheme 

A comprehensive investigation revealed that Avinash Singh used Highrise Advantage, LLC in a manner that was characteristic of a typical Ponzi scheme. Rather than investing the funds as promised, he paid previous investors with the capital from new ones. The cycle continued until the scheme unraveled. As long as new investors pour money into a Ponzi scheme, it can generally stay afloat. However, in this case, the Commodity Futures Trading Commission (CFTC) and several other regulatory bodies eventually stepped in. They took enforcement action and the scheme collapsed.

 Contact Our Florida Investment Fraud Attorney Today

At ​Carlson & Associates, P.A., we fight for investor rights. Did you or someone close to you suffer significant financial losses in an investment fraud scheme? Our attorneys are prepared to explore every potential option to help you recover compensation for your damages. Ready to get started? Contact us at our Miami office today for a confidential initial consultation.



  • Super Lawyers
  • AV Preeminent
  • Million Dollar Advocates Forum
  • Judicial Edition 2021
  • Curtis Carlson 25th Anniversary
  • Curtis Carlson Judicial Edition 2022
  • Curtis Carlson Judicial Edition 2023
  • 2023 Judicial Edition Curtis Carlson
  • 2023 Martindale Hubbell Award Curtis Carlson
  • 2023 Lawyers.com Curtis Carlson
  • 2024 Martindale Hubbell Award Curtis Carlson
  • 2024 Martindale Hubbell Award Curtis Carlson
  • 2024 Martindale Hubbell Award Curtis Carlson


2655 South Le Jeune Road
Suite 1108

Coral Gables, Florida 33134

Telephone: 305-372-9700
Fax: 305-372-8265

With Us

  • Facebook
  • Twitter
  • LinkedIn

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.

No content on this site may be reused in any fashion without written permission from www.Carlson-Law.net

MileMark Media - Practice Growth Solutions

© 2015 - 2024 Carlson & Associates, P.A. All rights reserved. This law firm website is managed by MileMark Media.