June 25, 2024

The Las Vegas Metropolitan Police apprehended Rodney Buckle, 65, on Tuesday, Dec. 13, on a warrant containing various charges related to fraud, including securities fraud and, theft as per the records. (LVMPD/KLAS)

LAS VEGAS (KLAS) — A citizen found guilty of operating a Ponzi scheme, which involved squandering millions of dollars in casinos rather than investing them in the stock market, as alleged by prosecutors, will be serving one year in jail.

Rodney Buckle, age 66, was sentenced by Clark County District Court Judge Jasmin Lilly Spells on Thursday to spend a year at the Clark County Detention Center. In addition to his sentence, Buckle is also required to repay $283,000 as restitution.

In 2022, Metro police apprehended Buckle on a warrant containing various charges related to fraud, like securities fraud and theft. The 8 News Now team of investigators initially reported this in the same year.

Buckle operated businesses under names like “Rodd United,” “Rodd U,” and “Rodd One,” and portrayed himself as a life coach and financial advisor, as per documents procured by the 8 News Now investigators, from the Nevada Secretary of State’s Office, after Buckle’s apprehension. The investigation revealed that he was not licensed by either the state or federal governments.

The business was operating near Flamingo Road and Arville Street, according to the documents. A post on the internet regarding the business, which referred to it as Rodd University, stated, “Rodd University is a membership-based club that provides a medium for research and open discussions on various topics, from current affairs to the stock market.”

“The investors stated that Buckle showed them a spreadsheet on his computer, marking their names and the investments they made with him,” the investigators said. “The amounts invested with him could be anything, ranging from $100 to more than $700,000.

Investigators further discovered that Buckle made wagers, amounting to $2.4 million, at the Westgate Hotel and Casino’s sports book and lost $76,000. The casino eventually barred him, as mentioned by the investigators. They also stated that he staked $440,000 at the South Point casino and lost $434,000.

Nevada Attorney General, Aaron Ford expressed, “It’s both illegal and immoral to deceive and manipulate others, especially senior citizens, for personal benefits.” With a firm resolve, he stated, “My office will continue to investigate and prosecute wrongdoers exploiting hard-working Nevadans.”

On completion of his jail sentence, Buckle will be monitored under probation.