SEC v. Victor Lee Farias and Integrity Aviation & Leasing, LLC (ponzi schemes, 2020)

Judgment entered

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On August 1, 2022 the Western District of Texas entered a default final judgment against Victor Farias ordering $5,364,260 in disgorgement and interest, deemed satisfied by his criminal restitution order, plus injunctions. The claims against Integrity Aviation & Leasing were not covered by that document.

The record

What was ordered

Civil penalty

—

Disgorgement

$4.9m

Prejudgment interest

$459k

Total relief

$5.4m

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Securities and Exchange Commission announced this matter on August 4, 2020 as release LR-24861. The respondents named are Victor Lee Farias and Integrity Aviation & Leasing, LLC (1 individual, 1 entity). The action was brought in the U.S. District Court, Western District of Texas.

This library tags the matter as ponzi schemes, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

Outcome. The final judgment as to Farias, entered after the court granted the SEC's motion for default, finds he violated the antifraud and registration provisions, enjoins him, bars him from participating in securities offerings, and orders $4,904,930.13 in disgorgement and $459,329.76 in interest, deemed satisfied by the restitution order in his criminal case. The document sets no civil penalty. The record lacks the Integrity Aviation entity's outcome and the sentence in the criminal case.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Ponzi schemes — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2020-08-04 Litigation release published
2. 2022-08-01 Default final judgment entered against Farias

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release
• Final judgment as to Victor Lee Farias

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.