The Florida Office of Financial Regulation today announced that Shawn Anthony St. Prix has been arrested on charges of grand theft and organized scheme to defraud for his role in an alleged fraudulent mortgage note investment scam.
Interim Commissioner Pamela Epting said, “The Florida Office of Financial Regulation is committed to protecting investors from financial criminals. We continue to work tirelessly with our state and federal partners to bring fraudsters to justice.”
St. Prix allegedly represented to an investor that he was an expert in real estate investments, buying mortgage notes at a discount, and then selling them for a 30 percent profit. He promised 15-30 percent returns on money invested with him. The alleged victims invested more than $242,000. The OFR investigation revealed, however, that most of the investors’ money was used for St. Prix’s personal expenses and stock market trades.
The Office of Statewide Prosecution is prosecuting this case.
Visit OFR Consumer Resources.
