Life Coach and Advisor Jailed for Gambling with Investors’ Funds

A 66-year-old man in Las Vegas presenting himself as a financial advisor and life coach was sentenced to one year in prison after using investment money for gambling, as reported by KLAS. Rodney Buckle, who ran a Ponzi scheme, was sentenced by Clark County District Court Judge Jasmin Lilly Spells. In addition to jail time, Buckle was ordered to pay $283,000 in restitution to his victims and will be placed on probation following his release.

Buckle operated multiple businesses with names such as “Rodd One,” “Rodd United,” and “Rodd U.” Despite portraying himself as a financial advisor, he did not hold any federal or state certification. Nevada’s Attorney General, Aaron D. Ford, stated that Buckle defrauded several victims, particularly targeting elderly individuals, between February 2014 and October 2016. Ford condemned Buckle’s actions and vowed to continue investigating and prosecuting those who exploit hardworking Nevadans.

Investigators discovered that Buckle had accumulated $2.4 million in sports betting wagers at Westgate Hotel and Casino, losing $76,000. He also placed $444,000 in wagers at South Point Casino, losing $434,000. Buckle allegedly collected investment sums ranging from $100 to over $700,000 from his victims, keeping their details in a spreadsheet that included their names and the invested amount.

In a separate incident in Nevada, an Idaho resident was arrested at the Cactus Petes Resort Casino in Jackpot after allegedly pulling a knife on a police officer. The 41-year-old was detained on multiple charges, with police discovering outstanding warrants against him.

Overall, Buckle’s case highlights the dangers of fraudulent financial advisors and the importance of proper certification and due diligence when dealing with investment professionals. The sentences and restitution imposed on Buckle serve as a warning to others who may engage in similar deceitful practices.