Miami, FL – In a significant legal development, Adam Jonathan Lowe, 43, from West Pittston, Pennsylvania, has been sentenced to over six years in federal prison for his involvement in a complex fraud scheme. The sentencing, handed down by Judge David Leibowitz on May 15, 2025, follows Lowe’s conviction on multiple charges, including conspiracy to commit wire fraud, wire fraud, mail fraud, and engaging in monetary transactions with criminally derived proceeds. After serving his prison term, Lowe will face three years of supervised release and is required to pay restitution to his victims.
This case is part of a broader investigation that also led to the sentencing of co-defendant Murray Todd Petersen, 73, from Fair Oaks, California. On May 13, 2025, Petersen received a nine-year federal prison sentence from Judge James I. Cohn after being found guilty by a jury in Fort Lauderdale, Florida, of conspiracy to commit wire fraud and wire fraud. Like Lowe, Petersen will serve three years of supervised release post-incarceration and must pay restitution.
Another co-defendant, Scott Schafer, 62, from Pembroke Pines, Florida, was sentenced on October 18, 2024, to five years of probation for conspiracy to commit wire fraud.
The fraudulent operations, orchestrated by Lowe in his role as president of The Diamond Desk and manager of PetersenLowe, LLC, involved the sale of overpriced fancy-colored diamonds to investors under false pretenses. Petersen acted as a salesman, misleading investors about the security, value, and potential returns of their investments. These diamonds were fraudulently appraised at inflated values by Schafer.
To maintain the façade, Petersen and Lowe introduced a fictitious investment program in the Chinese diamond market, promising substantial monthly returns. This program was, in reality, a Ponzi scheme designed to satisfy earlier investor demands. When investors began to demand their returns and questioned the appraisals, the scheme shifted to outright theft, with prepaid diamonds never being delivered.
The fraudulent activities defrauded over 100 victims of approximately $13 million. Petersen personally pocketed about $850,000 in commissions, which he used to settle IRS tax liens and cover business expenses.
The case was announced by U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida, alongside Acting Special Agent in Charge Brett D. Skiles of FBI Miami. The investigation was conducted by FBI Miami, with prosecution by Assistant U.S. Attorneys Marc Anton and Latoya Brown, and asset forfeiture handled by Assistant U.S. Attorney Marx Calderon.
For additional information, visit the United States Attorney’s Office for the Southern District of Florida’s website.
