WASHINGTON, D.C. (WRIC) — An Illinois woman and a Georgia man were convicted by a federal jury on Friday, Aug. 26 for several counts of wire fraud after years of operating a fraudulent scheme that promised victims investments in cattle and marijuana businesses.

Reva Joyce Stachniw, 70, of Galesburg, Il., and Ron Throgmartin, 58, of Buford, Ga., ran a Ponzi scheme from late 2017 until early 2019, according to court documents. They conducted this scheme by informing would-be investors that their investments were backed up by short-term investments in cattle. In addition to these fraudulent promises, Stachniw and Throgmartin also solicited money from investors for their marijuana business, Universal Herbs LLC.

Their fraudulent scheme was later investigated by the Federal Deposit Insurance Corporation Office of Inspector General and the FBI.

According to the Department of Justice, Stachniw and Throgmartin were convicted on one count of conspiracy to commit wire fraud, five counts of wire fraud and one count of conspiracy to commit money laundering.

Stachniw and Throgmartin are scheduled to be sentenced on Jan. 6, 2023, according to the Department of Justice. Both face a maximum penalty of 20 years in prison on each count of the wire fraud and conspiracy to commit wire fraud count, as well as 10 years in prison on the conspiracy to commit money laundering count.