Maple Grove investment advisor sentenced in $2M fraud scheme

A Maple Grove man was sentenced Tuesday for engaging in a $2.3 million mail fraud scheme.

The Minnesota U.S. Attorney’s Office said 34-year-old Isaiah Leslie Goodman was sentenced to seven years (84 months) in prison for defrauding at least 23 clients out of more than $2.3 million.

Court documents say Goodman was a registered investment advisor and broker who owned Becoming Financial Group, Inc., Becoming Financial Advisory Services L.L.C. and MoneyVerbs. Through those companies, he claimed to provide his clients with financial planning and investment advice, but prosecutors say he lied to prospective and existing clients about his use of their money.

Instead of placing his clients’ money into safe and secure investment accounts, Goodman deposited the funds into bank accounts he controlled and used them for his own benefit, including for buying and remodeling his Maple Grove home and a home in Plymouth, among other items, the attorney’s office said.

After his prison sentence, Goodman will also serve three years of supervised release.