Orange County - An Orange County man, of La Habra, was charged with investment fraud in federal court for defrauding a Laguna Niguel couple out of nearly $5 million in a phony investment scheme. John Walthall, of La Habra, was arrested by FBI Thursday for the investment fraud that defrauded the Laguna Niguel couple of $5 million.
He was charged with several white collar crimes, including felony financial fraud charges, wire fraud and money laundering by federal grand jury. According to the indictment, the victims gave Walthall $4.7 million to invest in a partnership of his phony investment. Instead of using the fund for investment, Waltham took the money for his personal expenses.
