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Scott Mason, 66, of Gladwyne, was sentenced on Wednesday, June 25, 2025, to eight years in federal prison after pleading guilty to a sweeping fraud scheme that lasted over a decade. The Department of Justice says Mason stole more than $17 million while running his firm, Rubicon Wealth Management LLC, and never reported a cent to the IRS.
Instead of investing as promised, Mason liquidated clients’ portfolios, forged signatures, and funneled the cash into accounts he controlled. He spent it on international travel, country club memberships, credit card bills—and a 25 percent stake in Jen’s Links, a miniature golf course in Barnegat Light on Long Beach Island, New Jersey.
Mason’s victims trusted him deeply. Prosecutors say he targeted those closest to him—longtime friends, family members, even a former employee.
One client lost more than $6 million after being defrauded by Mason since 2007. In that case, Mason used funds from newer clients to cover his tracks with partial repayments.
Court records show Mason lied to clients about investing in short-term bonds. In reality, he was using their money to buy real estate and support his lavish lifestyle.
The financial deception didn’t stop with the fraud. Mason also failed to report any of the stolen money on his tax returns, costing the federal government about $3.2 million in lost revenue.
He was sentenced to 97 months in prison, three years of supervised release, and ordered to pay more than $27 million in restitution—nearly $25 million to victims and $2.35 million to the IRS.
The SEC and DOJ both brought charges against Mason earlier this year. He pleaded guilty in January.
In civil suits filed in Montgomery County, investors are demanding as much as $42 million. One of them, retired insurance executive Stanley Tulin, says Mason drained his accounts to fund family parties, real estate projects, and the mini-golf business—then sent fake account statements and projections suggesting his fortune was safe.
Mason’s lawyer admitted in court that even after selling properties—including his Long Beach Island vacation home, student rentals in upstate New York, and his stake in Jen’s Links—there won’t be nearly enough money to pay everyone back.
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