SWFL.io - Local NewsA Lee County man was adjudicated guilty and sentenced to eight years in prison followed by 15 years of probation for fraud, grand theft and more to fund a lavish lifestyle.
According to the State Attorney's Office, Carson Rickard had entered into contracts for pay with multiple people to invest for them. He then provided false documents related to stock trades and avoided victims when they wanted to withdraw their money.
Evidence showed that the money was never invested. Instead, Rickard spent the money on an extravagant lifestyle which included expensive vacations, shopping trips and cash transactions through a money app, the State Attorney's Office said.
Rickard was found guilty of fraud in relation to five or more people over $50,000; grand theft over $100,000; and acting as an unlicensed investment adviser. The State Attorney's Office also said he has to pay $473,000 in restitution to the victims, and as part of his probation, he can't use any electronic stock trading programs.
The case was investigated by the Lee County Sheriff's Office.
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