A Landmark RICO Judgment for a Pro Se Plaintiff

In a remarkable display of perseverance, a self-represented litigant, Dr. David S. Field, an orthopedic surgeon from Iowa, has secured a final judgment of more than $2.3 million against Exponential Wealth Inc. (EWI) and its principals for fraud, conversion, and racketeering.

Following a jury trial before U.S. District Judge John G. Koeltl in the Southern District of New York, the November 12, 2025 judgment reflects not only the jury’s findings of liability under the Racketeer Influenced and Corrupt Organizations Act (RICO) but also the automatic trebling of damages mandated by law. This outcome marks an extraordinary triumph for a self-represented plaintiff who faced down professional fraudsters — and won.

A Fraudulent Investment Empire Exposed

EWI, based in New York, was operated by Ryan Murnane (a.k.a. Ryan Michaels), Krystalynne Murnane, and Christopher Paul (a.k.a. Nolan Bennett). They lured investors, including Dr. Field and his wife Holly, with glossy marketing materials and promises of high-value coin purchases insured through Lloyd’s of London. The Fields sent more than $1.4 million for coins that were never delivered, only to receive a string of bounced checks when they demanded repayment.

Trial evidence showed that investor funds were siphoned off for personal luxuries — from high-end retail to cruises and hotels — with no trace of legitimate coin transactions. The jury found that this conduct met the definition of racketeering activity, consisting of mail and wire fraud.

From Fraud Victim to Pro Se Litigator

Perhaps the most dramatic aspect of the case is that Dr. Field represented himself — pro se — throughout the litigation and trial. Going toe-to-toe with the defendants in federal court, he presented the evidence, examined witnesses, and navigated complex procedural hurdles on his own.

Behind the scenes, however, he was assisted by attorneys Lyn Stevens and Ken Walsh, who provided strategic advice and research support that proved invaluable in organizing the case and ensuring its legal precision. Their quiet collaboration underscored how experienced legal insight, even informally given, can empower individuals to achieve justice against formidable odds.

Findings of Fraud, Conversion, and RICO Violations

The jury found defendants Ryan Murnane (a.k.a. Ryan Michaels), Krystalynne Murnane, and Christopher Paul (a.k.a. Nolan Bennett) liable on multiple counts, including fraud, breach of fiduciary duty, unjust enrichment, and RICO violations. According to the judgment, the jury awarded damages on each claim, including:

  • $141,100 for fraud against Ryan Murnane;
  • $141,100 for substantive RICO against both Ryan and Krystalynne Murnane;
  • $141,100 for RICO conspiracy against Ryan Murnane;
  • $141,100 for breach of fiduciary duty and unjust enrichment; and
  • Additional $141,100 under New York General Business Law § 349 for deceptive practices.

Under federal law, these RICO damages were trebled, increasing the total RICO awards to $846,600 against Ryan Murnane and $423,300 against Krystalynne Murnane.

The judgment also ordered prejudgment interest at 9% per annum on the state-law claims, adding over $407,000 in interest for Ryan Murnane and $81,500 for Krystalynne Murnane.

Final Award Totals and Judgment Entry

In total, the Court entered judgment as follows:

  • Against Ryan Murnane: $1,737,068.57, including state-law damages, RICO treble damages, and accrued interest;
  • Against Krystalynne Murnane: $645,917.14, including unjust enrichment and treble RICO damages,
  • The judgment also entitles Dr. Field to recover attorney’s fees and taxable costs, to be determined in a separate motion under 18 U.S.C. § 1964(c) and Federal Rule of Civil Procedure 54(d).

Judge Koeltl’s order emphasized that this judgment constitutes a final judgment, concluding all remaining claims and dismissing the rest with prejudice.

A Broader Message to Investors and Fraudsters Alike

This case stands as a warning to those who exploit investor trust through deceptive financial practices. By treating fraudulent investment operations as organized racketeering enterprises, federal courts are showing increasing readiness to impose punitive treble damages and full fee recovery.

For investors, the message is clear: verify before you trust. Fraudulent operations often rely on glossy marketing, false guarantees, and fabricated credentials. Independent verification and early legal consultation can prevent devastating losses — or, as in Dr. Field’s case, ensure justice is ultimately achieved.

About the Authors

Prepared with insights from attorneys Kenneth G. Walsh and R. Lyn Stevens, who provided strategic support to Dr. Field in his pursuit of justice.

Law Office of Kenneth G. Walsh

59 Kensico Road, Suite 7
Thornwood, New York 10594
Phone: (929) 241-7307

Stevens Law, PLLC

Lyn Stevens, Esq.
Email: lyn@stevens.law
Website: www.coinfraud.com

CoinFraud.com focuses on financial fraud, RICO litigation, and investor protection nationwide in state and federal courts.