Exclusive: Rhode Island Marine Facing Federal Criminal Investigation for Alleged Ponzi Scheme

A recent development in the case of former U.S. Marine Christopher Aubin, who has been accused of running a Ponzi scheme, has shed light on a new federal criminal investigation. Initially, federal agents raided Aubin’s home, along with his girlfriend, Ashley Corcoran, back in May. Following this, the U.S. Securities and Exchange Commission (SEC) filed a civil complaint against Aubin, Corcoran, and Rhode Island businessman Russell Miller, Jr. The SEC’s legal action is still ongoing.

In a surprising turn of events, it has come to light that the federal investigation has expanded to include a criminal probe. This information was revealed in a court filing by Aubin’s lawyer, Stephen Frank. The filing requested an extension for the deadline to answer the government’s complaint, citing the pending criminal investigation by the U.S. Attorney’s Office in Rhode Island. It appears that the SEC charges against Aubin and the others have now prompted a separate criminal inquiry.

The full extent of this criminal investigation is not yet known, with Aubin being the only individual mentioned so far. The SEC alleges that Aubin defrauded 20 investors of millions of dollars, with losses exceeding $2 million. Among the victims were former Marines, small business owners, and retirees, all of whom believed they were investing with Aubin for high returns. In reality, Aubin used the funds for personal luxuries such as luxury cars, charter flights, and vacations in Europe.

This entire saga first came to light through an exposé by GoLocalProv in September 2024. Since then, the case has continued to unravel, revealing new twists and turns along the way. The involvement of multiple parties and the scope of the financial fraud have made this a complex and ongoing legal investigation. With the addition of a federal criminal probe, the stakes have been raised, and the consequences for Aubin and his associates could be severe.

As the legal process unfolds, more details are likely to emerge regarding the extent of the alleged Ponzi scheme and the involvement of others in the fraudulent activities. The intertwining of civil and criminal proceedings adds layers of complexity to the case, making it a high-profile and closely watched legal matter. For now, Aubin and the other defendants await further developments, as the authorities delve deeper into the financial misconduct that has rocked the Rhode Island community.