Montgomery County conman sentenced to 60 years in prison

Yahoo

08-03-2025

What we know
A Montgomery County jury has sentenced Ruben Vargas, 46, of Kingwood, TX, to 60 years in prison and a $10,000 fine for first-degree felony securities fraud and first-degree felony theft. The verdict was handed down on February 26, 2025.
"Even though we had a mutual friend, I really thought I could trust Ruben Vargas, and it turned out I couldn't at all," said Bryan Saintes, one of Vargas's victims.
The backstory
Vargas was charged in 2023 for defrauding victims between 2021 and 2022. Vargas portrayed himself as a highly successful broker, falsely promising to multiply his victim's investments with no risk. Witnesses described how he manipulated their trust, presenting himself as a charismatic, knowledgeable, and wealthy businessman who guaranteed he would cover any losses. Several victims also testified that Vargas exploited their Christian faith to deceive them further.
"He always had his nice house, his good cars, so he was like a businessman," said Hugo Ponza, another victim of Vargas.
In total, 14 victims testified that Vargas—who has never been a licensed investment adviser—stole approximately $690,000 and failed to return any money.
"I just invested $5,000 and his return that he promised me was $25,000 in 5 months," said Saintes.
"I gave him about $6,000-7,000, which at that time, I had in bitcoin," said Ponza.
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Instead, Vargas used the funds to purchase a Maserati sedan, two trucks, $24,000 in furniture, a home, and to pay off other investors. The jury also heard that Vargas' victims included his ex-wife, whom he assaulted while she was pregnant, and his daughter, from whom he stole both her quinceañera money and an insurance settlement.
What they're saying
Two of Vargas' victims spoke to FOX 26 Houston and said Vargas made investment promises that he did not keep.
"About the fourth month he was going to make payment for the $25,000. Well, he told me that the market wasn't as good as he expected. He said he had at least doubled my money so he had promised me a $10,000 return," said Saintes.
"Like a year later, I was in a situation where I was needing money, and I was like can I get at least half of it back? And that's when I realized it was all gone," said Ponza.
"We weren't his first victims. Hopefully we'll be his last. When it comes to Ruben Vargas, don't trust him," said Saintes.
The Source
Jade Flury spoke with the victims of Ruben Vargas.