Federal prosecutors say William Ichioka was caught doctoring financial documents, giving false account statements to investors, and diverting investor funds for his personal luxuries.

Ichioka, a 2011 graduate from St. Johns School, is the founder of Ichioka Ventures.

His company, which launched around 2019, is now under the microscope.

In 2017, the former Guam resident spoke on a panel at a young investors conference.

"I started when I was 16 years old with a little under 10,000 that my parents had saved up for me basically and it was back in 2009 when the stock market was on fire sale," he said. "So I was very fortunate and I did a lot with the money and transitioned into the start up world where I also ran into a lot of fortune and met a lot of good opportunities."

The FBI, IRS, the San Francisco regional office of the Securities and Exchange commission and the Commodity Futures Trading Commission were among those involved in the investigation.

A U.S. attorney spokesperson states, “the information filed in this case alleges Ichioka convinced victims to invest millions of dollars into his phony venture by claiming he was making legitimate profits when, in fact, he was reporting fake results and creating bogus documents.”

An FBI special agent adding, “Ichioka was able to secure millions from investors by telling them lie after lie…he stole from family, friends, and others to fund his lavish lifestyle while sustaining his deceit through investment repayments.”

Ichioka has signed the prosecutors plea deal in the Northern District Court of California. That’s where he will admit to charges of wire fraud, aiding or assisting in the preparation of a false or fraudulent tax return, fraud in connection with the purchase and sale of securities, and commodities fraud.

Ichioka is scheduled to appear in a California courtroom on July 5.

He faces up to 25 years in federal prison.