ALBUQUERQUE
John Lopez, 74, wasn’t a financial genius—he was a silver-hoarding con man who sold Northern New Mexico and Arizona investors a dream, then buried their money in his basement, authorities announced Tuesday.
For eight years, Lopez ran Personal Money Management Company like his personal ATM, promising “guaranteed” returns of up to 42% with a phony investment algorithm.
In reality, he spent $16 million on precious metals, received $6.1 million in Ponzi payouts to keep the scam alive, and paid himself a six-figure salary.
By the time federal agents raided him in 2021, Lopez had hauled in $24 million from more than 100 victims but could produce less than $15 million of the $39 million he claimed was under management.
The rest? Some of it was hidden in his office, storage units, and even underground.
When the FBI and U.S. Marshals searched his home again before sentencing, they found 19 boxes of silver coins—worth $350,000—stuffed in the crawl space. An additional $3 million in bullion remains missing.
All the bullion seized in November 2021
Lopez’s arrogance didn’t stop after his arrest. He kept soliciting investors, lying on account statements, and breaking release conditions five times—committing more fraud, hiding financial records, and contacting victims he’d already fleeced.
On sentencing day, the court handed down 30 years in federal prison and a $24 million forfeiture order.
In the federal system, that means he’ll die behind bars, barring a successful appeal of his case. The victims? Many will never see their money again.