After a two-year-long investigation into a fake investment scheme, Howard Silverstein, 78, of Newport Beach, was arrested on Tuesday morning by Irvine Police Department detectives for stealing over $1 million dollars from multiple victims.

The victims included a 90-year-old Irvine resident who lost $400,000 and another who lost their children’s college savings.

The Irvine Police Department’s persistent and determined Economic Crimes Investigator partnered with members of the OCDA’s Major Fraud Unit to file 13 felony charges against Silverstein.

He was located residing at an Extended Stay and was transported to another “extended stay” at the Orange County Jail.