FBI ups reward for former Arizona law enforcement officer wanted in $9M fraud scheme


PHOENIX (NewsNation Now) — Former Arizona Department of Public Safety (DPS) Officer, Frederick Arias, is wanted by the FBI in connection to a $9 million fraud scheme.

Now, the FBI is increasing their reward for information about Arias to $25,000. In order to earn the reward, the information must lead to an arrest or conviction.

Arias, 54, disappeared sometime in June of 2019 when he was released from custody on bond, then never showed up for his next court appearance.

Arias is accused of telling investors that The Joseph Project was a “safe and secure investment with guaranteed profits,” according to a news release from the FBI. Instead, he is accused of taking out money to pay personal expenses and wire funds overseas.

An FBI spokesperson told NewsNation that The Joseph Project was a fabricated, non-existent humanitarian project Arias allegedly used to target Christian investors.

Arias was charged with conspiracy, fraudulent schemes and artifices, money laundering in the first degree, ten counts of theft, two counts of illegal control of an enterprise, forgery, and fraudulent schemes on June 6, 2019. After that he was arrested in Kirkland, Washington.

Now, his location is unknown, but the FBI said he could be in Canada, Norway, Australia, the Czech Republic, or the Dominican Republic based on his ties in those countries. They also said he used to live in Kirkland, Washington.

If you have any information about where Arias is, call the FBI’s Phoenix Field Office at (623) 466-1999.

© 1998 - 2021 Nexstar Inc. | All Rights Reserved.