Man Charged with Investment Fraud Scheme in Jacksonville

Jacksonville man was arrested recently and charged with bilking investors out of $100,000 in an elaborate investment scheme, the Florida Times-Union reports.

Fraud charges in Jacksonville can range from using a worthless check to pay for something to setting up a scheme to steal money from investors. The penalties vary from days in jail to years in prison and, therefore, hiring an experienced Jacksonville Criminal Defense Lawyer is critical in order to protect your rights and defend the case.
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Police charged the man with organizing schemes to defraud after they allege he impressed investors with luxury vehicles and then got them to transfer money to him for bogus financial fund investments. According to authorities, he would provide investors with what police call fake financial documents and set up meetings at an attorney’s office to discuss their investing in hedge funds.

Police say he isn’t a real licensed broker and used his vehicles, including a 2007 Bentley, to try to impress investors. One alleged victim, police say, was conned into transferring $10,000 into the man’s bank account while he was in jail. An alleged co-defendant has been arrested in connection with the case, the newspaper reports.

Allegations of fraud can be difficult to prove in Florida, in part, because of the Great Recession, which has caused havoc to people’s savings accounts and finances. In years past, when investments would make money, investors tended not to gripe to the people running the operation.

But when the stock market started to crumble and people began losing money, they looked everywhere they could to re-coup the funds. And that included people charged with running investments. This has led to a lot of people facing criminal charges for fraud in Jacksonville when they were simply running an investment business that didn’t fare well.

But proving the investment business was criminal can be difficult, as all white-collar crimes can be. White collar crimes are typically considered financially based crimes that focus on stealing money through highly complex scams. Blue collar crimes are also considered theft crimes, but usually burglary and theft.

While investments can never be guaranteed, people who lose tend to think they should definitely re-coup money and seek criminal prosecutions or civil lawsuits if they don’t win.

This can be a dangerous situation for investment professionals and requires that an experienced Jacksonville Criminal Defense Lawyer be contacted as soon as possible. Reviewing the records will take time and being available when law enforcement officers come knocking is critical, too.


The Forbess Law Firm has been helping clients facing criminal charges in Jacksonville for more than a decade and are here to provide criminal defense to anyone accused of a crime. If you or a loved one require a Jacksonville criminal defense lawyer, contact our firm today through our website. Or call us at 904-634-0900.

Additional Resources:

Police say Jacksonville con man wowed investors with luxury cars, by Jim Schoettler, The Florida Times-Union