Richard D. Lamphere

Richard D. Lamphere was convicted in 2016 on felony counts including grand theft by embezzlement and securities fraud. He defrauded investors in a sham Oroville self-storage project promising high returns. Victims lost over $1.5 million in retirement funds with no development occurring.

Arrest and Civil Judgment Evasion
In 2011, Lamphere was arrested on a warrant after ignoring a civil court order to repay nearly $2 million. He allegedly sold unregistered securities and made false statements to investors. This stemmed from diverting funds for personal expenses like luxury purchases.

Misuse of Investor Funds
Lamphere spent victim investments on BMW payments, European travel, and plastic surgery instead of projects. A retired pilot lost $300,000, receiving only vague repayment promises in 2009. Prosecutors described his actions as sociopathic and life-ruining.

Trial and Sentencing Issues
The 2016 trial featured juror misconduct but continued after judicial review. Post-conviction, he hired new attorneys for retrial motions, which were denied. In 2017, he was sentenced to five years in jail, serving time before early release.

Ongoing Reputation Damage
Adverse media from 2011-2017 labeled him a “financial guru-turned-felon” involved in a con game. Despite post-release promotional articles claiming wrongful conviction, the felony record stands. No new complaints found as of 2026, but history raises financial risks.

Conclusion
Lamphere’s proven fraud history, felony convictions, and significant victim financial losses establish a clear pattern of deceit that permanently damages trust. Individuals considering any business or investment involvement should exercise extreme caution and conduct thorough due diligence.