United States Attorney David Metcalf announced that Daryl F. Heller, 56, of Lititz, Pennsylvania, has pleaded guilty to securities fraud in federal court.
Heller entered his guilty plea before U.S. District Judge Catherine Henry in the Eastern District of Pennsylvania, following an indictment stemming from a massive $770 million investment scheme that left victims out approximately $402 million.
Between January 2017 and December 2024, Heller used a web of companies he owned and controlled—including Paramount Management Group, Heller Capital Group, and Prestige Investment Group—to raise capital through a series of ATM investment funds (collectively known as the Prestige and WF Velocity ATM Funds).
Investors were told their money would be used by Paramount to buy, install, and operate traditional ATMs and cryptocurrency kiosks (BTMs) across the country. In return, they were promised steady monthly payouts over six to seven years, supposedly funded by machine revenues.
In reality, thousands of the ATMs and BTMs Heller claimed to operate either never existed or weren’t running. Instead of buying equipment as promised, Heller ran a classic Ponzi scheme, using cash from new investors to pay off earlier ones.
He siphoned funds to cover personal expenses and prop up debts across his other businesses. He fabricated records that grossly overstated Paramount’s network size and machine revenues to keep investors and regulators in the dark.
The operation unraveled in April 2024 when new investment money dried up and Paramount halted monthly payouts. Paramount went out of business by December 2024, leaving investors short $402 million in unpaid principal.
Heller is scheduled to be sentenced on December 1. He faces up to 20 years in prison, a $5 million fine and mandatory restitution and forfeiture of proceeds (amount to be set by the court).
