Former Thousand Oaks Man Ordered To Stand Trial For Investment Fraud

Wednesday February 01, 2023

     Updated--Following a three day preliminary hearing, a Ventura County judge Wednesday ordered a former Thousand Oaks resident to stand trial in connection with an alleged major investment fraud reportedly centering on a booklet he wrote titled "The DUI Nightmare."

     Prosecutors allege that 66-year-old George Ronald Russell stole more than $1 million from at least 10 victims by making false claims to victims when securing investments in the booklet.

     They also allege that the investigation determined Russell resold interests in the book without paying prior investors.

     The complaint against Russell includes 14 counts of grand theft, 8 counts of money laundering, and two counts of possessing a firearm and ammunition while being a convicted felon.

     He is also facing 21 special allegations including that he took more than $500,000 during the commission of the alleged crimes.

     Russell was arrested in Nevada on April 1st and is currently free on bond.

     He has pleaded not guilty to all charges and denied the special allegations.