FORT MYERS, Fla. (WINK) — It is a nightmare that can wipe out a lifetime of hard work in an instant: investment fraud.
A months-long WINK Investigates inquiry has uncovered a series of lawsuits filed within the past year against a Fort Myers man, Michael James Watkins. The filings accuse Watkins of defrauding seniors across Southwest Florida out of millions of dollars, collectively.
'I Trusted Him'
For one 93-year-old widow who spoke with WINK Investigates, the loss is more than just a number; it is the destruction of the security she and her husband spent 70 years building.
"We had him to our home... I trusted him," she said. Asking to remain anonymous due to the embarrassment she feels about the situation, she revealed she gave Watkins $300,000 in separate checks in 2021. After her husband passed away in 2022, she said she trusted him with another $500,000 in various payments.
She claims that money never went to the agreed-upon investments. Instead, she is now one of 13 plaintiffs in Lee County alleging that Watkins instructed clients to leave the memo lines on their checks blank. According to the lawsuits, Watkins then filled them in himself, diverting the funds into his own company, Radiant Private Investment LLC.
A 'Staggering' Scale
Attorney Matthew Schwartz, who represents the majority of the alleged victims in Lee County, characterizes the operation as a classic "Ponzi scheme."
"He was allegedly selling interest in a bond fund that he pitched to elderly individuals," Schwartz told WINK Investigates. "It was a fraud. A ‘Ponzi Scheme’, effectively."
The financial figures revealed in the court documents are significant.
“Judgments in the amount of 2.5 million. Pending claims seeking damages of 1.4 million. So just shy of four million dollars,” Schwartz said.
WINK Investigates found no record of Watkins or his affiliated companies, Watkins Financial Group and Radiant Private Investment LLC, holding a license to deal with securities in Florida.
Watkins' History
While the civil lawsuits mount, Watkins' history reveals a long list of prior legal issues. Records show 10 mugshots over the past 15 years for charges ranging from domestic violence and battery to DUI.
The family of the 93-year-old alleged victim questions why criminal charges have not followed.
"The attorney is the only recourse we had," said Jeffrey Martin, the woman's son. "Law enforcement, the Attorney General—none of these people have been able to help us at all."
The Florida Attorney General’s Office confirmed it received nine complaints regarding Watkins but stated it did not pursue the cases, believing the jurisdiction fell under the Department of Financial Services. That department has not responded to repeated requests for comment.
The Defense
WINK Investigates spent more than two months attempting to get Michael Watkins' side of the story.
According to Florida business records, Watkins’ affiliated companies have since dissolved. Most of the alleged victims have won their cases through default judgements; three of them are still pending. In a couple cases Watkins’ legal team provided an answer to the complaint, denying the general allegations. Those cases are still pending as is the case brought by the widow who spoke with WINK Investigates.
