A judge sentenced a Twin Cities securities broker who stole more than $2.3 million from his clients to fund his lavish lifestyle to seven years in federal prison Tuesday.
U.S. District Court Judge Susan Nelson also ordered 34-year-old Isaiah Leslie Goodman to forfeit real estate, vehicles, a Tiffany 18-karat gold diamond ring and other property from Goodman's ill-gotten fortune to the federal government.
Goodman pleaded guilty earlier this year to defrauding 23 investors through multiple financial advisory companies based in Minneapolis and Maple Grove from 2017 to last November. According to the plea, Goodman advised his clients to place their savings into 401(k) and individual retirement accounts he claimed to be safe and secure. Instead, Goodman transferred their money to his personal bank accounts to develop and help fund his other business venture, an app called MoneyVerbs.
Goodman lied during the sales pitches to investors, persuading some to take money out of pre-existing accounts and roll it into those he supported.
He continued to fabricate fraudulent information about their money and phony online account information to avoid suspicion, the plea says.
The money went toward plans to build a $1.7 million home in Plymouth, a $76,000 down payment on a $535,000 house in Maple Grove, $49,500 for a Ford Expedition, nearly $14,000 for a hot tub, $12,000 on a cruise vacation, $8,300 for fitness club memberships and $4,516 on jewelry from Tiffany.
Goodman told a judge in February he planned to take responsibility for his crimes. His lawyer, Joseph Dixon, said at the time that Goodman turned himself in last November, though he didn't say what prompted him to do so.
Andy Mannix • 612-673-4036