An investor wired $1 million into a business account after being told the money would remain in escrow for a land project intended to benefit the University of Austin.
John Stuart Robison controlled the account and was supposed to leave the investment untouched unless he raised another $1 million.
Instead, federal prosecutors said he transferred $250,000 into another account one day after the wire arrived.
Within several months, Robison had essentially spent the entire investment on purposes that did not benefit the university. A federal jury convicted the 63-year-old Austin man of wire fraud and money laundering on July 22, 2026.
False Property Options Supported the Investment Pitch
Robison persuaded an investor to place $1 million into a business bank account that he controlled, according to the U.S. Attorney’s Office for the Western District of Texas. He represented that the money would support a proposed land project benefiting the University of Austin.
The money nevertheless went into an account controlled solely by Robison rather than an account overseen by an independent party identified in the Justice Department’s announcement. Prosecutors said Robison made false statements about land that he controlled or had placed under option.
He presented fabricated property-option contracts that made it appear he had secured rights connected to the proposed project. Robison also claimed that money already spent on the development had come from his personal accounts. The Justice Department did not publish a transaction-by-transaction breakdown showing where the remaining money went.
The University Was Not Accused of Participating
The University of Austin was presented to the investor as the intended beneficiary of the land project, but the money was wired into Robison’s business account. The Justice Department’s announcement did not accuse the university or any of its employees of participating in the fraud or receiving the investor’s money.
A Federal Jury Convicted Robison After Trial
A federal grand jury indicted Robison on Nov. 18, 2025. Authorities arrested him three days later. Following a trial in Austin, jurors convicted him of wire fraud and money laundering.
The FBI and Austin Police Department investigated the financial transactions. Assistant U.S. Attorneys Dan Guess and Britni Verdeja prosecuted the case.
Robison faces up to 20 years in federal prison for wire fraud and up to 10 years for the money-laundering offenses. A federal judge will determine his sentence, and no sentencing date or final restitution order had been announced.
An Escrow Promise Should Be Verified Before the Wire
The Federal Trade Commission advises investors to verify investment claims independently rather than relying only on documents and representations supplied by the person seeking the money. An investor can contact the escrow agent through independently located information and confirm that the wiring instructions belong to the account named in the agreement.
Claims involving land can also be checked through county deed records, a title company or an attorney representing the investor. A property owner or the owner’s attorney can confirm whether an option contract is genuine and whether the person promoting the investment has rights to acquire or develop the land.
Copies of the investment agreement, option contracts, wire instructions, bank confirmations, emails and representations about how the funds will be held should be preserved. Those records can show what conditions were promised and whether the recipient followed them.