An El Paso man has admitted he spent years running a Ponzi scheme built around supposed NBA preseason-game promotions, federal prosecutors say. Timothy France Johnson pleaded guilty in federal court on Friday to seven counts of wire fraud.
According to CBS4 El Paso, Johnson, 63, entered his guilty plea on Friday and faces up to 20 years in federal prison on each wire-fraud count. The outlet reports that the scheme spanned more than a decade and involved dozens of investors.
A federal indictment filed last year by the U.S. Attorney’s Office for the Western District of Texas charged Johnson with seven counts of wire fraud and three counts of engaging in monetary transactions, alleging he collected more than $3 million from investors. Prosecutors say about $1 million was used to pay sham returns to earlier investors, and the remainder was diverted for personal use.
Court filings described by local reporters state that from Feb. 9, 2009, through May 14, 2020, Johnson solicited investments while pitching himself as a third-party promoter for NBA preseason games. He allegedly promised “zero risk” and backed it up with fraudulent contracts and statements, according to CBS4 El Paso. The station’s reporting details specific examples: one investor wired $15,000 in 2014 and later added $20,000, while another wired $50,000 in 2019 after signing an agreement that guaranteed a return.
Legal Consequences And Next Steps
By pleading guilty to seven counts of wire fraud, Johnson faces statutory penalties of up to 20 years in prison per count, although a federal judge will ultimately decide his sentence at a later hearing. The case is being prosecuted by Assistant U.S. Attorneys Shane Romero and Micaela Glass, and the FBI led the investigation, according to the U.S. Attorney’s Office.
Local Impact And Context
Local reporting and court filings indicate that at least thirty investors were harmed and the scheme took in more than $3 million overall, with many victims in the El Paso area. Earlier coverage of the 2024 indictment noted that Johnson is the estranged brother of El Paso mayoral candidate Renard Johnson, a detail reported by KVIA at the time.
What To Watch
Next up is the formal sentencing date, along with any restitution orders that could be issued as the court moves to close the case. Federal officials say the investigation is a reminder for investors to be wary of offers that promise guaranteed returns and exclusive access to sports-promotion deals that sound too good to be true.
