Francius Marganda, an Indonesian national, scammed 237 victims out of $24.5 million. Then he disappeared into a world of five-star hotels, island resorts, and endless room service.
He was not some criminal mastermind with high-tech gear. He was just another guy in Queens with a smooth pitch. But that pitch convinced hundreds of people, many of them fellow Indonesian immigrants, to hand over their savings. Some gave up money they’d set aside for cancer treatment. Others planned to use it for their kids’ college or a family wedding. All of it vanished.
How the Con Artist Built His Empire of Lies?
Marganda didn’t run some flashy Wall Street scam. He called his programs “Easy Transfer” and “Global Transfer” – harmless-sounding names that promised 200% returns in weeks. It seemed too good to be true. And it was.
He promised them commissions and treated them to fancy dinners. Meanwhile, the money was never being invested. It just moved from one person to the next, classic Ponzi style.
By the time anyone caught on, it was too late. The money was gone, and Marganda was halfway around the world.
He Lived a High-Life Hideout
When things started to unravel, the con artist didn’t stick around to face the fallout. Instead, he grabbed the cash and ran. Using a fake name – Joshua Setiawan – he fled the U.S. in 2021 and turned into a globe-trotting fugitive.
From the Maldives to Nepal, he lived like royalty. He stayed three months at the five-star St. Regis Hotel in Bangkok. He checked into a luxury Marriott in Kathmandu. And when authorities finally caught up with him, he was relaxing at the five-star Barracks Hotel Sentosa in Singapore.
Victims Left in Ruins
The damage left behind is hard to grasp. Victims told prosecutors they couldn’t pay for life-saving medical treatments. Some couldn’t bury their parents. Others fell into deep depression. A young mother said she thought about ending her life and her baby’s.
One investor said the betrayal was like being robbed by a brother. Another said they still blame themselves every day.
Justice (Finally) Catches Up
In 2023, Singapore police arrested Marganda after he overstayed his welcome at yet another luxury hotel. The U.S. extradited him, and in a Brooklyn courtroom, justice was served.
The judge gave him 18 years in prison. He also has to pay back $8.5 million and forfeit another $7.5 million. That sounds good on paper. But let’s be real. Most victims won’t see a dime.
Two of his assistants also pleaded guilty. They are waiting for their own sentences. Prosecutors say Marganda couldn’t have pulled this off alone, and he made sure his partners were rewarded with free hotel stays and commissions.
What Made This Con Artist So Convincing?
Part of what made Marganda so effective was how familiar he seemed. He was not a stranger from a faraway office. Rather, he was part of the same immigrant community. He spoke their language and understood their hopes. This way, he made them believe they could finally get ahead.
He even used religion to gain trust. Many investors went to the same church as his assistants. Some pooled their money, trusting that if others were doing it, it had to be safe.