Texas Man Indicted for $4 Million Investment Scam

NEW ORLEANS, LOUISIANA -On May 14, 2026, SHAWN R. WARE, SR., age 53, was indicted on six-counts of wire fraud, in violation of Title 18, United States Code, Section 1343, announced U.S. Attorney David I. Courcelle.

According to the indictment, WARE obtained over $4 million from over twenty victims between 2019 and the present, by falsely promising to invest the victims' funds in fictitious business ventures. WARE promised the victims that they would receive significant returns on their investments within a short period of time. WARE induced victims to send him money by telling victims that he would invest their funds in real estate, a website business, computer equipment, sound equipment for rappers, and a night club. The indictment further alleges that WARE spent the victims' money on luxury items and personal travel. When victims requested that their money be returned, WARE concocted phony excuses for the unavailability of their funds, and asked victims to send him additional money to do such things as "close out" a deal, release funds from overseas, move funds from a foreign bank account, or pay taxes.

If convicted of Counts One through Six, WARE faces a maximum penalty of twenty (20) years in prison, up to three (3) years of supervised release, and a fine of up to $250,000, per count. A mandatory $100 special assessment fee for each count is also applicable.

U.S. Attorney Courcelle reiterated that an indictment is merely a charge and that the guilt of the defendants must be proven beyond a reasonable doubt.

U.S. Attorney Courcelle praised the work of the Federal Bureau of Investigation. Assistant United States Attorney Maria M. Carboni of the Public Integrity Unit is in charge of the prosecution.