The Florida Office of Financial Regulation today announced the surrender of Robert Lee Humphrey, Jr., for his alleged role in a crab fishery investment scam. He is charged with organized fraud, securities fraud, grand theft, sale of a security by an unregistered dealer and sale of an unregistered security.
Interim Commissioner Pamela Epting said, “The Florida Office of Financial Regulation is committed to working with our state and federal partners to bring financial criminals to justice. I encourage all Floridians who suspect questionable financial business practices to file a complaint online at flofr.com or by calling (850) 487-9687.”
Humphrey allegedly sold investments in High Cotton Bahamas, LLC, a supposed stone crab fishing company, to at least 12 mostly elderly victims. He purportedly solicited victims while operating as a karaoke disc jockey in Tampa Bay area bars and restaurants. Victims believed that they were guaranteed a return of 1 to 10 percent on their investment. They were also led to believe that their investments were secured by real property in the Bahamas. Humphrey is accused of using victims’ money to fund his personal lifestyle.
This case is being prosecuted by the Hillsborough County State Attorney’s Office.