• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About
  • Advertise
  • Submit News
  • Contact Us

Capital Soup

Florida News Straight From the Source

  • Soup Du Jour
  • People
  • Government
  • Campaign
  • Business
  • Education
  • Insights
  • Video
You are here: Home / Government / Orlando Man Sentenced to Prison in $3.6 Million Investment Fraud Scheme

Orlando Man Sentenced to Prison in $3.6 Million Investment Fraud Scheme

Posted on December 5, 2018

The Florida Office of Financial Regulation today announced the sentencing of Justin Troy Spearman to more than four years in prison and eight years of probation after pleading no contest to charges of grand theft, securities fraud, selling unregistered securities and selling securities as unregistered agent.

Interim Commissioner Pamela Epting said, “The Florida Office of Financial Regulation is committed to working with our state and federal partners to protect Floridians from financial criminals. Thank you to our investigators, the Winter Park Police Department and the Office of Statewide Prosecution for their efforts in this case.”

Spearman solicited investments from Florida victims in a scheme involving royalty interest from oil and gas leases. He presented investors with documents that purported to demonstrate that he had rights to an oil and gas leasing enterprise, so that they would invest with him. The investigation revealed that the documents were fake and that Spearman used most of investors’ money to fund his extravagant lifestyle. Spearman defrauded victims out of more than $3.6 million.

This case was investigated by the Florida Office of Financial Regulation and the Winter Park Police Department. The case was prosecuted by the Office of Statewide Prosecution.

The Florida Office of Financial Regulation provides regulatory oversight for Florida’s financial services providers. Our mission is to protect Floridians, promote a safe and sound financial marketplace, and contribute to the growth of Florida’s economy with smart, efficient and effective regulation of the financial services industry.
Share this article! Share on FacebookShare on Twitter

Filed Under: Government Tagged With: Florida Office of Financial Regulation, Investment Fraud Scheme

Primary Sidebar

    Submit News    

Miya’s Law, a Bill Enhancing Renter Protections, Signed into Law

“Miya’s Law,” SB 898, sponsored by Senator Linda Stewart (D – Orlando) and Representative Robin Bartleman (D – … [Read More...] about Miya’s Law, a Bill Enhancing Renter Protections, Signed into Law

House Democrats Respond to SCOTUS Overturning Roe v. Wade

Six Justices of the United States Supreme Court overturned decades of precedent today with their decision to … [Read More...] about House Democrats Respond to SCOTUS Overturning Roe v. Wade

The Florida Department of Economic Opportunity Announces $30 Million Available to Florida Rural Communities for Economic Development

The Florida Department of Economic Opportunity (DEO) today announced $30 million in available funds for … [Read More...] about The Florida Department of Economic Opportunity Announces $30 Million Available to Florida Rural Communities for Economic Development

Keep in Touch

  • Email
  • Facebook
  • Twitter

Newsletter signup

Stay in the loop! Subscribe to our weekly newsletter to receive a brief recap of the week's most popular stories.

Footer

News

  • Soup Du Jour
  • People
  • Government
  • Campaign
  • Business
  • Education
  • Insights
  • Video

About Us 

  • About
  • Advertise
  • Submit News
  • Contact Us

Keep in Touch

  • Email
  • Facebook
  • Twitter

Copyright © 2021
Terms & Conditions

© Copyright 2022 Capital Soup · All Rights Reserved ·