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			{{DEFAULTSORT:Spence, Carl}}
	[[Category:High-Profile_Federal_Offenders]]		[[Category:High-Profile_Federal_Offenders]]
	[[Category:Wire_Fraud]]		[[Category:Wire_Fraud]]

Orderly: Create article: Carl Spence (federal case)

2026-06-03T14:28:38Z

Create article: Carl Spence (federal case)

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{{Infobox Person
|name = Carl Channing Spence
|birth_place = Texas, United States
|residence = Mont Belvieu, Texas
|charges = Wire fraud (18 U.S.C. § 1343)
|conviction_date = 2026
|plea = Guilty
|sentence = 120 months (10 years) federal prison, 3 years supervised release
|sentencing_date = May 2026
|judge = Hon. Lee H. Rosenthal
|case_number = U.S. District Court, Southern District of Texas (Houston Division)
|facility = Federal Bureau of Prisons custody
|status = Incarcerated
|known_for = AEI Financial "meme stock" Ponzi scheme
}}

'''Carl Channing Spence''' is an American man from Mont Belvieu, Texas, who was convicted of [[wire fraud]] for running a Ponzi-style investment scheme through a business he called AEI Financial. He ran the operation out of his home. Between January 2022 and August 2023 he took in about $2.1 million from people he knew. He told them he traded "meme stocks" and could return 10 to 12 percent.<ref name="doj">U.S. Department of Justice, U.S. Attorney's Office, Southern District of Texas. "Houston-area resident sentenced to 10 years for stock investment Ponzi scheme." 2026. https://www.justice.gov/usao-sdtx/pr/houston-area-resident-sentenced-10-years-stock-investment-ponzi-scheme</ref><ref name="baytownsentence">Baytown Sun. "Mont Belvieu man sentenced to 10 years in federal prison for 'meme' stock Ponzi-scheme." 2026. https://baytownsun.com/local/mont-belvieu-man-sentenced-to-10-years-in-federal-prison-for-meme-stock-ponzi-scheme/article_a8576e9f-a380-4e01-bf74-d115b75ffeab.html</ref>

The money was not invested as promised. Spence moved much of it to his own use. He paid earlier investors with funds from newer ones, which kept the scheme looking solvent. He sent investors account statements that showed gains that did not exist.<ref name="doj"/><ref name="bluebonnet">Bluebonnet News. "Mont Belvieu man sentenced to 10 years for stock investment Ponzi scheme." May 30, 2026. https://bluebonnetnews.com/2026/05/30/mont-belvieu-man-sentenced-to-10-years-for-stock-investment-ponzi-scheme/</ref>

Spence pleaded guilty to wire fraud in early 2026. In May 2026, U.S. District Judge Lee H. Rosenthal sentenced him to 120 months in federal prison, followed by three years of supervised release. The case was handled in the Southern District of Texas. Investigators identified 19 victims.<ref name="doj"/><ref name="baytownsentence"/><ref name="investmentexec">Investment Executive. "Meme stock Ponzi schemer gets 10 years." 2026. https://www.investmentexecutive.com/news/regulation/meme-stock-ponzi-schemer-gets-10-years/</ref>

== Background ==

Spence lived in Mont Belvieu, a small city in Chambers County, Texas, east of Houston. He was in his early forties at the time of his guilty plea.<ref name="baytownplea">Baytown Sun. "Mont Belvieu man pleads guilty to 'meme stock' Ponzi-scheme." 2026. https://baytownsun.com/local/mont-belvieu-man-pleads-guilty-to-meme-stock-ponzi-scheme/article_8bced8db-f37c-4f05-9e8e-1510e41ed8e6.html</ref> He drew his investors from people in his own circle. Court filings describe friends, acquaintances, and colleagues. Prosecutors said he targeted people he knew well, including some he understood to be vulnerable.<ref name="doj"/><ref name="bluebonnet"/>

The scheme used the language of retail stock trading that became common during the 2021 and 2022 market runs. "Meme stocks" were shares that surged on social media attention rather than company fundamentals. Spence told investors he traded those names and could deliver steady double-digit returns from them.<ref name="doj"/><ref name="baytownsentence"/>

== AEI Financial and the Scheme ==

Spence operated under the name AEI Financial. He ran it from his residence in Mont Belvieu. He did not register it as a licensed brokerage or advisory firm in the public record cited by prosecutors.<ref name="doj"/><ref name="baytownplea"/>

The pitch was specific. Spence told investors that AEI Financial put money into popular stocks during a period of fast market gains. He promised returns of 10 to 12 percent. He solicited the investments directly from people he knew.<ref name="doj"/><ref name="baytownsentence"/>

The trading did not happen as described. Spence diverted a large share of the incoming money to personal use. He used new investor deposits to pay people who had invested earlier. That cycle is the core mechanic of a [[Ponzi scheme]]: returns appear to come from profit, but they come from later investors' principal.<ref name="doj"/><ref name="bluebonnet"/>

To sustain the appearance of success, Spence produced account statements. The statements showed investment growth and returns that were not real. Investors who received them believed their balances were rising. They were not. The activity ran from January 2022 through August 2023.<ref name="bluebonnet"/><ref name="baytownplea"/>

The total taken in was approximately $2.1 million. Federal prosecutors identified 19 victims tied to the scheme.<ref name="doj"/><ref name="investmentexec"/>

== Charges and Conviction ==

The U.S. Attorney's Office for the Southern District of Texas charged Spence with wire fraud under 18 U.S.C. § 1343. Wire fraud applies when a scheme to defraud is carried out using interstate electronic communications.<ref name="doj"/><ref name="baytownplea"/>

Spence pleaded guilty in early 2026. At the plea stage the offense carried a statutory maximum of 20 years in federal prison and a fine of up to $250,000.<ref name="baytownplea"/><ref name="doj"/>

The Federal Bureau of Investigation's Houston field office investigated the case. The Mont Belvieu Police Department also took part. Assistant U.S. Attorneys prosecuted the matter for the Southern District of Texas.<ref name="doj"/><ref name="bluebonnet"/>

== Sentencing ==

U.S. District Judge Lee H. Rosenthal sentenced Spence in May 2026. The term was 120 months in the custody of the Federal Bureau of Prisons. The court added three years of supervised release to follow the prison term.<ref name="doj"/><ref name="baytownsentence"/>

At the sentencing hearing, three of the 19 known victims spoke. They described losses to their finances and to their plans for the future. The court addressed the nature of the conduct directly. It noted that Spence solicited from friends, colleagues, and members of his community, and that some of the people he drew in were particularly exposed to harm.<ref name="doj"/><ref name="bluebonnet"/>

The 120-month sentence sits well below the 20-year statutory maximum for a single wire fraud count. The court also imposed supervised release, a period after prison during which a defendant remains under federal monitoring and conditions.<ref name="doj"/><ref name="baytownsentence"/>

== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQ|question=Who is Carl Channing Spence?|answer=Carl Channing Spence is a Mont Belvieu, Texas man who ran a roughly $2.1 million Ponzi-style investment scheme through a business he called AEI Financial. He told investors he traded "meme stocks" for returns of 10 to 12 percent. He pleaded guilty to wire fraud and was sentenced in 2026 to 10 years in federal prison.}}
{{FAQ|question=What was Carl Spence convicted of?|answer=Spence pleaded guilty to wire fraud under 18 U.S.C. § 1343. The charge stemmed from a Ponzi-style scheme he ran from January 2022 through August 2023 that took in about $2.1 million from 19 victims.}}
{{FAQ|question=How long is Carl Spence's sentence?|answer=U.S. District Judge Lee H. Rosenthal sentenced Spence to 120 months, or 10 years, in federal prison. The court also imposed three years of supervised release to follow the prison term.}}
{{FAQ|question=What was AEI Financial?|answer=AEI Financial was the name Spence used for his operation. He ran it from his home in Mont Belvieu, Texas. He told investors AEI Financial put money into popular "meme stocks" and could return 10 to 12 percent. The trading did not happen as described. He used new investor money to pay earlier investors and diverted much of the rest to personal use.}}
{{FAQ|question=How much money was involved?|answer=The scheme took in approximately $2.1 million. Federal prosecutors identified 19 victims.}}
{{FAQ|question=How did Carl Spence get caught?|answer=The FBI's Houston field office and the Mont Belvieu Police Department investigated the case. The U.S. Attorney's Office for the Southern District of Texas charged Spence with wire fraud, and he pleaded guilty in early 2026.}}
{{FAQ|question=Where is Carl Spence incarcerated?|answer=Spence was remanded to the custody of the Federal Bureau of Prisons after his 2026 sentencing. The specific facility has not been identified in the public record cited here.}}
{{FAQSection/End}}

== References ==

<references />

[[Category:High-Profile_Federal_Offenders]]
[[Category:Wire_Fraud]]
[[Category:Securities_Fraud]]
[[Category:Ponzi_Schemes]]
[[Category:Currently Incarcerated]]

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|description=Carl Channing Spence of Mont Belvieu, Texas ran the AEI Financial "meme stock" Ponzi scheme. Convicted of wire fraud and sentenced in 2026 to 10 years in federal prison. Full case file.
|keywords=Carl Channing Spence, Carl Spence AEI Financial, meme stock Ponzi scheme, Mont Belvieu wire fraud, AEI Financial Texas, Spence Ponzi scheme sentence
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{{MetaDescription|Carl Channing Spence of Mont Belvieu, Texas ran the AEI Financial "meme stock" Ponzi scheme. Convicted of wire fraud, sentenced in 2026 to 10 years in federal prison. Case file on Prisonpedia.}}

Carl Spence - Revision history

JasonHarris: copyedit: set DEFAULTSORT sort key

Orderly: Create article: Carl Spence (federal case)