Maple Grove financial adviser sentenced to 7 years for defrauding clients of $2.3 million – Press

A Maple Grove financial adviser was sentenced to seven years in prison Tuesday for defrauding his clients of more than $2.3 million.

Isaiah Leslie Goodman, 34, pleaded guilty in February to one count of mail fraud, according to a news release issued by the U.S. attorney’s office.

As part of his sentence, Goodman will also spend three years on supervised release and forfeit his equity in real estate, a vehicle and other personal property.

According to court documents, Goodman was a registered investment adviser and broker who owned Becoming Financial Group Inc. and Becoming Financial Advisory Services LLC, through which he said he provided clients with financial planning and investment advice. He also owned MoneyVerbs, a business claiming to provide customers with financial guidance through an app.

From at least 2017 though November 2020, Goodman defrauded at least 23 investor clients out of about $2,335,797, the news release said. Goodman also lied to clients about how he was using their money, the security and profitability of accounts he claimed to administer on their behalf and their fund status, court documents said.

Additionally, Goodman gave his clients false information, such as investment proposals and fake online account information, court documents said.

Goodman took the funds to buy and remodel his home in Maple Grove and a $1.69 million home in Plymouth. He also bought two cars, a hot tub, a cruise, gym memberships, jewelry and used the funds for credit card payments.