Riley Graham convicted of $1.4 million prison investment fraud

A federal jury has convicted Riley Graham, 60, also known as David Drake, of conspiring to commit wire fraud while serving a prior sentence at the Bureau of Prisons Federal Correctional Complex in Beaumont, Texas.

Between June 2019 and October 2024, Graham orchestrated an investment scheme that defrauded victims of more than $1.4 million. The victims included a Beaumont pastor and his family, the owners of a construction business in North Carolina, and a fellow inmate and his family.

Graham faces a potential maximum sentence of up to 30 years in federal prison, along with possible fines and restitution. A sentencing date will be determined following investigations by the U.S. Probation Office.