CRIME BLOTTER

Everett man indicted in $200 million water machine Ponzi scheme

Aug 14, 2025, 5:18 PM

Grays Harbor prison overdose...

A photo of the U.S. Department of Justice Seal. (Photo courtesy of the U.S. Department of Justice)

(Photo courtesy of the U.S. Department of Justice)

An Everett man is now under federal indictment for an alleged Ponzi scheme that was described by an investor as “the largest franchise fraud case in the history of the United States,” according to a news release from the U.S. Attorney’s Office for the Western District of Washington on Thursday.

Ryan Wear, 49, owned Water Station Management LLC until it was forced into bankruptcy in August 2024.

Wear was charged for alleged securities and wire fraud in connection with raising more than $200 million from retail investors and military veterans, the Department of Justice stated.

Everett man allegedly sold water vending machines that didn’t exist

Prosecutors said Wear sold water vending machines that, in many cases, did not exist, and paid promised returns with new investor money.

“The scale of this fraud, which resulted in at least $200 million in losses, is simply staggering,” FBI Special Agent in Charge W. Mike Herrington stated in the release. “And the deception and obfuscation these two men allegedly engaged in to siphon funds from retail investors, even U.S. military veterans, is absolutely unconscionable.”

The case is being handled by prosecutors in the Southern District of New York. If convicted, Wear faces at least 20 years in prison.

Follow James Lynch on X. Read more of his stories here. Submit news tips here.

Crime Blotter

seattle shots fired...

MyNorthwest Staff

3 in custody after Seattle officers shot at

Three people are in custody after shots were fired at Seattle officers.

7 hours ago

drive-by shooting...

James Lynch

WSP arrests suspect in last month’s drive-by shooting on SR 900

Washington State Patrol (WSP) troopers have arrested a suspect in connection with an early-morning drive-by shooting on SR 900.

9 hours ago

Monroe man murder 2-year-old girl...

Frank Lenzi

Monroe man arrested for murder of girlfriend’s 2-year-old daughter in Snohomish County

A 27-year-old Monroe man is under arrest, charged with murdering his girlfriend's 2-year-old daughter and assaulting her 5-year-old son in Snohomish County.

14 hours ago

hit-and-run lake union skateboarder...

Jason Sutich

20-year-old skateboarder hospitalized after hit-and-run in South Lake Union

A hit-and-run collision seriously injured a 20-year-old skateboarder early Wednesday morning, sparking a Seattle Police Department investigation.

15 hours ago

yakima machete bank arrest...

Jason Sutich

Machete-wielding man arrested after barricading himself in Yakima bank

A 29-year-old Yakima man, armed with a machete, entered a bank on Monday with an alleged intention to rob the bank and later barricaded himself inside.

17 hours ago

black bear decapitation wdfw...

KIRO 7 News Staff

WDFW looking for information on unlawful decapitation of black bear

The Washington Department of Fish and Wildlife Police are looking into the “unlawful killing” of a black bear that was dumped in Pend Oreille County.

18 hours ago

Everett man indicted in $200 million water machine Ponzi scheme