Investment Scam in California

Federal authorities arrested a man accused of running an investment scheme that netted more than $25 million by targeting Christian investors nationwide. John G. Irvin, age 61, of Mission Viejo, was arrested Friday on a charge of wire fraud. He later appeared in federal court, where he was ordered held on $1 million bail. Ervin was named in a criminal complaint filed in federal court. The same day, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission filed lawsuits against him and his company, Safevest LLC, and obtained federal orders freezing their assets. He used his company, Safevest, to persuade victims to invest in a fake commodity futures trading program. He guaranteed them up to one percent in returns each day.