Lawsuit Accuses OneFlight International of Running 'Ponzi Scheme,' Seeks Recovery of $580,461
Why It MattersThe case highlights solvency and prepaid-deposit risks in the jet card sector, potentially prompting closer buyer scrutiny of broker financial health before large upfront commitments.
A lawsuit filed September 20, 2026, in the United States District Court of Colorado alleges that Centennial, Colorado-based jet card broker OneFlight International operated in a manner "consistent with the hallmark of a Ponzi scheme," using new customer deposits to fund obligations owed to earlier customers and vendors. The plaintiff, Jeremy Ricks, names the company, CEO Ferren Rajput, Executive Vice President of Sales Mark Dismuke, and sales executive John Crandall as defendants, with claims including fraud, fraudulent concealment, negligent misrepresentation, civil conspiracy, breach of contract, civil theft, and unjust enrichment.
The filing alleges that between May 2025 and at least September 2026, defendants repeatedly assured Ricks that OneFlight was financially sound while knowing that rising operating costs and mounting prepaid-flight-hour obligations were rendering the company increasingly insolvent. Ricks says he first contacted OneFlight in May 2025 after responding to a promotion, and after assurances from Crandall, Dismuke, and Rajput that the company was solvent, made an initial non-refundable deposit of at least $100,000 by May 20, 2025, followed by further deposits tied to promotions that brought his lifetime total to $780,000.
The lawsuit also alleges that OneFlight continued high-profile sponsorships — including the PGA Tour Myrtle Beach Classic, a partnership with Tiger Woods and Rory McIlroy's TGL, and a multi-year deal as official private aviation partner of the McLaren Mastercard Formula 1 Team — at a time the filing alleges the company was struggling to pay vendors and charter operators. After spending approximately $200,000 on flights, Ricks is seeking to recover a cash balance of $580,461.42.
OneFlight paused flight activity in mid-September 2026 following a report that the company was addressing financial and operational issues. The Denver Business Journal first reported the lawsuit, and Rajput, Dismuke, and Crandall did not respond to requests for comment.
