PHILADELPHIA, PA — Josh S. Verne, 47, a former Gladwyne, Pennsylvania resident now based in Fort Lauderdale, Florida, pleaded guilty on Monday, March 3, 2025, to three counts of securities fraud, nine counts of wire fraud, and one count of aggravated identity theft. The charges stem from an extensive series of fraudulent schemes carried out between 2017 and 2020, which defrauded investors, employees, and business partners of millions of dollars.
Appearing before U.S. District Court Judge John F. Murphy, Verne admitted to using his position as a self-proclaimed successful entrepreneur to deceive investors. He falsely inflated his business accomplishments, personal net worth, and the financial health of his companies to secure investments and loans. Verne also forged financial statements, including one purporting to show $50 million in family holdings at Goldman Sachs, despite having no such account.
Verne used misappropriated funds to cover prior debts and fund an extravagant lifestyle. Expenses included private jet travel, Jersey Shore property renovations, charitable donations, contributions to political campaigns, and luxury memberships. To conceal his actions, Verne submitted forged bank and delivery confirmations to investors awaiting repayments.
Additionally, Verne acknowledged stealing the identity of a former employee, forging their signature on a stock sale agreement to illegally sell shares for $150,000. Those funds were used for personal gains and to placate a previous investor.
Acting U.S. Attorney Nelson S.T. Thayer, Jr. underscored the severity of Verne’s schemes, stating, “Today’s guilty plea demonstrates our commitment to holding accountable individuals who use deception to exploit others for personal gain. Such actions erode trust in our financial systems.”
Verne faces up to 242 years in prison, including a mandatory minimum of two years, along with three years of supervised release, a potential fine of $17.5 million, and a $1,300 mandatory special assessment. Full restitution for the victims will also be ordered. Sentencing is scheduled for June 13, 2025.
The case was investigated by the FBI’s Philadelphia Field Office and is being prosecuted by Assistant U.S. Attorneys Paul G. Shapiro and Jerome M. Maiatico. Civil securities fraud charges filed by the Securities and Exchange Commission’s Philadelphia Regional Office remain pending.
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