Cranston Man Who Posed As Financial Advisor Pleads To Wire Fraud: Feds

PROVIDENCE, RI — A Cranston man who posed as a financial advisor pleaded guilty Wednesday to wire fraud.

Jason Johnson, 53, was indicted in March 2025 by a federal grand jury, according to a media release from the U.S. Attorney's Office.

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"According to court documents, Johnson falsely represented himself as a financial advisor and accepted approximately $140,000 from a Rhode Island couple through the now-defunct W.S. Solutions LLC," the release said.

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"Johnson diverted much of the investment funds into two bank accounts he controlled and spent most of the couple’s invested funds on personal expenditures," according to the release.

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Johnson ignored repeated queries from investors, per the release, and failed to provide statements, reports or summaries.

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"Instead, he sent electronic communications assuring them that their accounts were being serviced and they would receive distributions of profits at a later date," the release said.

Johnson's sentencing was scheduled for Aug. 27.

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