As some readers of Hindenburg may be aware, we got our start in the world of fraud research by investigating suspected Ponzi schemes and private market fraud, including multiple firms and individuals later charged criminally or civilly by regulators.
On October 23rd, 2024, Prominent Utah Entrepreneur Aaron Wagner Was Criminally Charged With One Count of Wire Fraud By Federal Prosecutors
On October 24th, Aaron Wagner, a social media financial influencer, and claimed successful entrepreneur managing $1 billion in investor assets, was arrested and taken into jail, per Salt Lake City’s prison inmate lookup.
The Department of Justice unsealed a complaint that had been filed the previous day alleging wire fraud. Per the complaint, Wagner diverted funds raised from an investor—that were supposed to be used to build certain restaurants—to instead purchase a private plane. We are glad to see the DoJ take swift action and hope these steps help maximize recovery for any of Wagner’s aggrieved investors.
We began researching Wagner in August 2023, following outreach from multiple whistleblowers who reported how he had misrepresented his investment performance, falsified financial records, and illicitly skimmed investor assets. We examined these issues in addition to evidence that he fabricated key elements of his background.
Today, we are publishing some of our findings to hopefully shed more light on the story of Aaron Wagner.
Part I: Wags Capital, An Investment Firm Managing $1 Billion Founded By Aaron Wagner
Wags Capital is an investment firm founded by Aaron Wagner, who also serves as its CEO. As of April 2023, Wags Capital reported on Instagram:
“Wags Capital has $1B under management in various industries, including hospitality, food services, retail, and real estate.”
On its recently taken down website, the company touted “Returns Beyond Riches™” and reiterated the $1 billion under management claim (bottom right).
(Source: Wayback Machine)
Wags Capital’s business consisted of 40-50% real estate, 40% food and beverage and 10% other investments and syndications, according to an October 20th, 2021, interview with Aaron Wagner.
Wagner also acted as managing partner of Axia Partners, a real estate investment firm with close to 400 investors and $130 million in AUM, according to Dave Allred, CEO of Axia Partners.
Wagner’s Background: From Football To Real Estate And A “Billion-Dollar Empire”
Originally from Canada, Wagner says he came to the US on a football scholarship “with $33 to [his] name.”
In 2006, Wagner signed a professional football contract, playing in the Canadian Football League until the end of the 2009 season. He launched his entrepreneurial career by using his football money to invest in foreclosures during the global financial crisis, according to an interview.
He became a millionaire by age 26, ultimately building a “billion-dollar empire.”
(Source: Archive.today)
“People Call Me A Douchebag For Being Flashy” – Aaron Wagner Describing His Influencer Marketing Approach
Read the full report here by Hindenburg Research
