Aaron Wagner And Wags Capital: From Pro Football To Utah’s Latest Disgraced Financial Influencer

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2024-10-28 13:30:07

As some readers of Hindenburg may be aware, we got our start in the world of fraud research by investigating suspected Ponzi schemes and private market fraud, including multiple firms and individuals later charged criminally or civilly by regulators.

In a more recent example, in 2022, we uncovered a $400 million ongoing ponzi scheme called J&J Purchasing based in Las Vegas.

As part of our investigation into J&J, we obtained recordings of its key marketers by rigging a private jet with hidden surveillance equipment and inviting them to pitch the investment offering to a Hindenburg associate posing as a wealthy investor. As is customary during our research process, when we suspect issues of fraud we share our findings with regulators.

In March 2022, FBI agents showed up at the home of the lawyer alleged to be behind the scheme, resulting in a shootout followed by a four hour standoff, during which the lawyer confessed repeatedly to having run J&J as a Ponzi scheme. The lawyer was then taken into custody, recovered from his gunshot wounds and was criminally indicted on charges of wire fraud and money laundering.

On October 24th, Aaron Wagner, a social media financial influencer, and claimed successful entrepreneur managing $1 billion in investor assets, was arrested and taken into jail, per Salt Lake City’s prison inmate lookup.