The evidence showed that Wright had been lying to his many investors since at least 2001 about the investment performance they were enjoying and about the balances in their accounts . He reported substantial investment gains almost every month , when in fact , the evidence revealed that he lost almost every dollar invested in the market . He also reported balances in client accounts that were up to 200 times greater than what actually existed . During the period of the scheme , the evidence showed that Wright diverted millions of dollars of investors ' money for personal expenditures , including cash for himself and family members , jewelry , house renovations , a $ 500,000 wedding , up to six luxury vehicles and multiple pieces of real estate , mainly in Atlanta and California .