CHARLOTTE, NC — He claimed to be a trusted financial expert. In reality, federal prosecutors say Jon Patrick Kubler was an unlicensed con artist, running a multi-million-dollar Ponzi scheme that preyed on the elderly, vulnerable, and grieving — and now he’s facing serious federal charges.
Kubler, 52, of Redondo Beach, California, has been indicted on charges of securities fraud and money laundering in connection with a long-running scam that bilked over $4 million from roughly 30 victims between 2017 and 2023.
Posing as a Planner, Playing the Predator
According to the criminal indictment, Kubler posed as a financial adviser — despite having no license or legal authority to manage investments. He is accused of targeting unsophisticated investors, including elderly individuals and those receiving life insurance or settlement payouts, convincing them to invest in phony real estate deals under companies he controlled: Aksarben Evolution, LLC and Green Saddle, LLC.
Prosecutors allege Kubler used lies, omissions, and half-truths to lure victims in, promising high returns from commercial property ventures. In truth, it was a classic Ponzi scheme: Kubler used new investor money to pay off earlier victims, masking the illusion of profit while quietly siphoning off funds for personal expenses and cash withdrawals.
“He weaponized trust — especially the trust of those least equipped to protect themselves,” said U.S. Attorney Russ Ferguson in announcing the charges.
Lies, Deception — and an SEC Investigation
In 2022, one of Kubler’s victims received a letter from the U.S. Securities and Exchange Commission (SEC) — a red flag that might have stopped the scheme in its tracks. But Kubler allegedly sprang into action, telling the victim not to respond and claiming it was “normal” to hear from the SEC after receiving a large settlement.
This effort to silence the alarm bells only deepened the deception.
A Trail of Fraud — and a Trail of Justice
Kubler now faces up to 30 years in prison: 20 years for securities fraud and 10 years for money laundering. The indictment follows an earlier civil case filed by the SEC, which in January 2025 secured a final judgment against Kubler that included a permanent ban from securities activity, as well as disgorgement and civil penalties.
In September 2023, the SEC had already obtained a temporary asset freeze and restraining order, signaling the scope of the fraud and the urgency of the damage being done.
This case is being prosecuted by Special Assistant U.S. Attorney Eric Frick and Assistant U.S. Attorney Graham Billings, with investigative work led by the FBI’s Charlotte Field Office.
🎯 A Cautionary Tale
Kubler’s case is a chilling reminder: credentials matter, and when it comes to your finances, even the most convincing adviser can turn out to be a conman in disguise.
