Marcus Beam, Who Took Money From Women He Met Online and Fled to Bali, Sentenced to 63 Months

Case from 2020–2024 (U.S. Attorney's Office latest release: Jan. 28, 2021; later developments are from court records and other sources cited below). Published on Scammers.com Oct. 16, 2026; case status is current as of that date.

Marcus Beam of Woodridge, Illinois, called himself a Chicago investment manager. He took money from women he met through online dating services, and from other investors, by promising to invest it in stocks like Uber and Lyft. On April 26, 2024, he was sentenced to 63 months in federal prison and three years of supervised release, according to court records [3]. The Securities and Exchange Commission said he was ordered to pay $566,228 in restitution to ten victims [4].

Before his conviction, Beam fled the United States while out on bond. U.S. Marshals found him in Bali, Indonesia, and he was returned to Chicago in January 2021 [1].

How the scheme worked

According to the January 2020 indictment, as described by the U.S. Attorney's Office for the Northern District of Illinois [2]:

1. The persona. Beam presented himself as the owner of Chase Private Equity LLC, also called New World Capital LLC. He also ran a Naperville virtual reality company, VR 360 LLC, and Imex Energy Inc., a Bolingbrook retail electricity brokerage.
2. The targets. He went after women he met online and other investors, including a family member and a former employee, exaggerating his success and the returns they could expect.
3. The pitch. He said the money would go into popular stocks like Uber and Lyft, and into gold, art and real estate. Some of it came from investors' retirement accounts.
4. The spending. He used the money for rent, auto loans and shopping at stores such as Walmart and Ikea.
5. The cover-up. He sent victims account statements that misstated their balances and gave false reasons why he couldn't return their money.

The indictment put losses at at least $500,000, from 2015 to October 2019. In his guilty plea, Beam admitted to a scheme to defraud investors that ran from about March 2015 to October 2019 [4].

Flight to Bali

According to prosecutors [1]:

• Beam fled after being released on bond in January 2020.
• The U.S. Marshals Service tracked him to Bali. Indonesian police detained him on an INTERPOL Red Notice in July 2020.
• He was deported on Jan. 27, 2021. That day he was arraigned in Chicago and pleaded not guilty to ten counts of wire and mail fraud.
• Officials credited news coverage with generating leads before his capture.

Outcome

• Criminal case (No. 1:19-cr-00698, N.D. Ill.) [3]: pleaded guilty to Count 1 (wire fraud) on March 16, 2023, and the remaining counts were dismissed. U.S. District Judge Martha M. Pacold sentenced him April 26, 2024, to 63 months plus 3 years of supervised release. The SEC reported restitution of $566,228 to ten victims [4].
• SEC civil case (No. 19-cv-6458, N.D. Ill.): a default final judgment entered Sept. 21, 2020, permanently bars him from violating the antifraud laws. It ordered $219,921 in disgorgement and interest and a $207,000 civil penalty [5].
• SEC industry bar: on Oct. 18, 2024, the Commission barred Beam from associating with any investment adviser, broker or dealer [4].

Red flags

• A new romantic interest who quickly brings up investing or offers to manage your money.
• Promises of hot stocks or pre-IPO shares through their private firm.
• Statements that come only from them, and excuses when you ask to withdraw.
• Requests to move retirement savings into their company.

What to do

1. Never invest through someone you met on a dating app without independently verifying their registration on brokercheck.finra.org and adviserinfo.sec.gov.
2. Keep money at a regulated custodian in your own name. You should be able to see your holdings directly.
3. Report romance and investment scams to the FBI at ic3.gov, the SEC at sec.gov/tcr and the Illinois Securities Department.

Case status (as of Oct. 16, 2026)

Defendant	Court	Status as of Oct. 16, 2026	Source
Marcus Beam, Woodridge, Ill.	N.D. Ill., 1:19-cr-00698	Pleaded guilty to wire fraud March 16, 2023; sentenced April 26, 2024, to 63 months, 3 years supervised release, $566,228 restitution	[3], [4]
Marcus Beam	N.D. Ill., 19-cv-6458 (SEC); SEC administrative	Default final judgment Sept. 21, 2020; industry bar Oct. 18, 2024	[4], [5]

Sources

1. U.S. Attorney's Office, Northern District of Illinois, "Chicago Investment Manager Detained in Indonesia and Returned to Chicago to Face Federal Fraud Charges," Jan. 28, 2021. https://www.justice.gov/usao-ndil/pr/chicago-investment-manager-detained-indonesia-and-returned-chicago-face-federal-fraud
2. U.S. Attorney's Office, Northern District of Illinois, "Chicago Investment Manager Indicted on Fraud Charges for Allegedly Swindling Money From Women He Met Online," Jan. 17, 2020. https://www.justice.gov/usao-ndil/pr/chicago-investment-manager-indicted-fraud-charges-allegedly-swindling-money-women-he
3. CourtListener, United States v. Beam, No. 1:19-cr-00698 (N.D. Ill.), docket, including the Judgment (Sentencing Order) of April 26, 2024. https://www.courtlistener.com/docket/16194567/united-states-v-beam/
4. U.S. Securities and Exchange Commission, In the Matter of Marcus Beam, Advisers Act Release No. 6752, opinion and order, Oct. 18, 2024. https://www.sec.gov/files/litigation/opinions/2024/ia-6752.pdf
5. U.S. Securities and Exchange Commission, Litigation Release No. 24921, Sept. 28, 2020. https://www.sec.gov/enforcement-litigation/litigation-releases/lr-24921

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