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Charges: Maple Grove investment advisor defrauded clients out of $2.2 million

Isaiah Goodman has been charged with one count of mail fraud.

A Maple Grove investment advisor has been charged in U.S. District Court after allegedly defrauding clients out of more than $2.2 million.

Isaiah Goodman has been charged with one count of mail fraud, a Minnesota's U.S. Attorney announced Monday.

Goodman worked as an investment advisor and booker with his companies, Becoming Financial Group, Inc. and Becoming Financial Advisory Services L.L.C. He said he provided financial planning services and offered to put his clients’ savings and retirement funds into safe and profitable accounts.

But instead of putting clients’ money into investment accounts like he claimed, Goodman put the funds into bank accounts he controlled. He used the money to remodel his home in Maple Grove, purchase and build a $1.7 million home in Plymouth and purchase two cars. 

From 2017 to November 2020, Goodman defrauded 23 clients out of more than $2.2 million, according to the federal charges. Goodman allegedly lied to clients through email and in-person pitches and provided false investment proposals and online account information.

Goodman also owned an app, MoneyVerbs, which provided financial advice. He funneled $700,000 of the defrauded money to this app. 

He then failed to return funds upon request and instead kept the money or provided incomplete or late payments.

The Minnesota FBI and Minnesota Commerce Fraud Bureau investigated the case. Goodman will make his initial court appearance at a later date. 

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