19-Year-Old's Shocking $40K Stock Fraud Scheme Exposed—Who Were His Victims?

IDAHO FALLS — In a troubling case that underscores the risks of financial scams, a 19-year-old man, Jesus Rivas Ruiz, has been charged after allegedly swindling over $42,000 from twelve individuals by posing as a day trader. The charges include one count of grand theft by possession of stolen property and one count of general fraud.

According to court documents, Rivas Ruiz was employed by a sales company in April 2024. He reportedly persuaded his coworkers to invest various amounts of money with the promise of profitable returns through a trading website. Over the ensuing months, he created a group chat with these victims, where he would share images of supposed trades and profits, thus encouraging them to continue sending him money.

As summer drew to a close, the twelve individuals sought to withdraw their funds. Rivas Ruiz repeatedly assured them that he was handling the situation through his lawyer and broker, but weeks passed without any reimbursements. This delay prompted skepticism among the investors regarding the legitimacy of Rivas Ruiz’s activities.

Investigation revealed a disturbing pattern. Victims became suspicious when they found a review left by Rivas Ruiz online, in which he claimed to have sustained injuries from a dirt bike accident and was in need of funds for surgery. However, a family member later spotted him at a party, where there were no visible signs of injury.

In September 2024, a few of the victims arranged to confront Rivas Ruiz at Tautphaus Park. Before the meeting could take place, he alleged that his truck and the money had been stolen outside the Mountain America Center. However, when the victims drove by Rivas Ruiz's home, they noticed his truck parked in the driveway. When questioned about his truck’s whereabouts, Rivas Ruiz maintained that it had not been returned to him.

Eventually, one victim decided to confront Rivas Ruiz directly, threatening to involve law enforcement if he didn’t return the money. Following this confrontation, Rivas Ruiz reportedly reimbursed that individual but failed to return funds to others.

Bank records show that over the course of these transactions, Rivas Ruiz made use of Venmo and Zelle to transfer money into his Wells Fargo account, with no evidence that any of the funds were ever invested in trading websites as promised.

This case highlights an unsettling reality in today’s digital age, where scams can flourish with alarming ease. Financial fraud, particularly involving unregulated investment schemes, has been on the rise in recent years. For many, the desire to achieve quick financial gains can lead to risky decisions, making individuals susceptible to deceit. The story of Jesus Rivas Ruiz and the twelve victims serves as a cautionary tale, emphasizing the necessity for vigilance and skepticism, especially in financial dealings.

As the legal process unfolds, it is crucial to remember that Rivas Ruiz is presumed innocent until proven guilty. The case is a stark reminder of the potential dangers lurking behind seemingly trustworthy propositions.