The Florida Office of Financial Regulation today announced that Lathon Jeen Yee was arrested in Orlando on a charge of organized scheme to defraud. [Read more…] about Orlando Man Arrested for Investment Fraud Scheme
Investment Fraud Scheme
Key West Trio Arrested for $7 Million Investment Fraud Scheme
The Florida Office of Financial Regulation today announced that Jose Luis Leon, Richard A. Renner, and Natalie M. Rogers were arrested on charges of racketeering, conspiracy to commit racketeering, securities fraud, organized fraud and grand theft in the first degree for their alleged role in an investment fraud scheme.
[Read more…] about Key West Trio Arrested for $7 Million Investment Fraud Scheme
Parkland Man Guilty in Nearly $2 Million Investment Fraud Scheme
The Florida Office of Financial Regulation today announced that Thomas Michael White has been found guilty of mail fraud and conspiracy to commit mail and wire fraud, following a nine-day federal trial. [Read more…] about Parkland Man Guilty in Nearly $2 Million Investment Fraud Scheme
Orlando Man Sentenced to Prison in $3.6 Million Investment Fraud Scheme
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. [Read more…] about Orlando Man Sentenced to Prison in $3.6 Million Investment Fraud Scheme
Bay Area Man Arrested for Alleged Investment Fraud Scheme
The Florida Office of Financial Regulation today announced the arrest of James Harold Hosner, of Safety Harbor, for his alleged role in an investment scam. He is charged with the sale of an unregistered security, sale of a security by an unregistered dealer, securities fraud, and grand theft. [Read more…] about Bay Area Man Arrested for Alleged Investment Fraud Scheme
Bradenton Man Sentenced for Role in Investment Fraud Scheme
The Office of Financial Regulation today announced that Terrance Taylor was recently sentenced to five years in prison to be followed by three years of supervised release for his role in an investment fraud scheme. He was also ordered to pay more than $3 million in restitution to his victims.
Commissioner Drew J. Breakspear said, “I thank the Federal Bureau of Investigation and the United States Attorney’s Office for the Middle District of Florida for their assistance in this case. The Office of Financial Regulation will continue to work with state and federal partners to bring financial criminals to justice.”
Taylor, along with co-defendant Timothy Roberts, sold stock in Savtira Corporation, Inc., a Ybor City based company, which purportedly offered a centralized, cloud-based shopping cart platform for online and traditional retailers to sell goods. They lured victim investors by making false claims and misrepresentations about the company’s profitability, alleged contracts and ownership of patents. The investigation revealed that the stock certificates were essentially worthless and the victims’ money was used for personal expenses.
Tarpon Springs Man Enters Guilty Plea in Investment Fraud Scheme
Fake Security System Pitch Used to Dupe Investors
The Florida Office of Financial Regulation (OFR) today announced that John Edward Simpson, 64, entered a plea of guilty to eight felony counts of grand theft, 12 felony counts of securities fraud, 12 felony counts of failing to register a security, and 12 felony counts of failing to register as a securities dealer. Simpson, a resident of Tarpon Springs, perpetrated an investment fraud scheme out of Safety Harbor.
“Protecting Floridians from financial fraud is our top priority. This scammer falsely promised a return on investment using a fake security system pitch to deceive victims,” said OFR Commissioner Drew J. Breakspear. “I am proud of our investigative team, which gathered evidence, conducted interviews, and financial analyses, to ensure that Floridians received a positive outcome in this case.”
Simpson told at least 20 victim investors across the country that his company, Defense Technology Corporation DTC, LLC (DTC), had developed a security system to be manufactured and marketed to schools and universities in the United States. Simpson issued stock and promissory notes in DTC, but never established any revenue or customers. Contrary to representations, the majority of victims’ money was not used to further the business, but instead was used to pay Simpson’s “salary” and personal living expenses.
The OFR appreciates the assistance of the Tarpon Springs Police Department and Pinellas County Sheriff’s Office. The Pinellas County State Attorney’s Office prosecuted the case.
If you feel that you may be a victim of fraud or to report suspicious activity, please file a complaint with the OFR online, www.flofr.com, or call (850) 487-9687.
