A Sacramento man, Keinyatey Deboros Chambers, 49, has been indicted on 10 counts of wire fraud for allegedly orchestrating a cannabis investment scheme that defrauded victims of over half a million dollars. U.S. Attorney Eric Grant announced that Chambers is scheduled to make his initial appearance today following the federal grand jury's indictment.
According to court documents, Chambers falsely claimed involvement in the legitimate cannabis industry between December 2017 and March 2026. He reportedly met victims at casinos, bars, and restaurants across California, promising substantial returns within days or weeks on their investments. Instead of investing the money as promised, Chambers allegedly used the funds to finance his personal life, gamble at casinos, or pay associates. He also pressured investors to contribute more money and recruit others into the scheme.
The Federal Bureau of Investigation and the California Department of Justice’s Bureau of Gambling Control conducted the investigation. Assistant U.S. Attorney Jessica Delaney is prosecuting the case. If convicted, Chambers faces a maximum statutory penalty of 20 years in prison and a $250,000 fine for each count, though the final sentence would be determined by the court.