Chief WINK Investigates Reporter Chorus Nylander
•8/31/2026
FORT MYERS, Fla. (WINK) — Multiple Southwest Florida retirees are facing devastating financial losses after trusting Fort Myers financial advisor Michael Watkins with their life savings, and new federal documents obtained by WINK Investigates reveal that the Securities and Exchange Commission (SEC) has been investigating Watkins for over a year.
Chief WINK Investigates Reporter Chorus Nylander has spent eight months investigating Watkins, who has been sued by 13 former clients that accuse him of fraud.
According to federal court records obtained by WINK Investigates, the SEC is actively looking into allegations that "Watkins may have been running a Ponzi scheme or may have misappropriated investor funds." The regulatory agency has issued subpoenas for Watkins' financial and credit card records to trace investor proceeds, though Watkins filed a motion last month to quash those subpoenas citing privacy laws. The legal dispute remains ongoing.
Watkins allegedly pitched his victims safe, high-yield bonds and certificates of deposit through established local firms. Instead, clients say their money was diverted directly into an LLC controlled by Watkins called Radiant Private Investment.
One former client, who asked to remain anonymous out of embarrassment, lost $210,000 of his retirement savings. He discovered the fraud after noticing inconsistencies on his bank statements, which purported to be from Fidelity Investments.
"I called Fidelity and gave them the accounts, and they said our accounts don’t go that way," the client said. He is now one of over a dozen former clients suing Watkins in civil court.
Tracing the missing millions has proven difficult. Matthew Schwartz, an attorney representing several impacted investors, uncovered a mysterious $820,000 wire transfer made in November to Watkins' former attorney, Scott Faden. In a sworn deposition, Watkins claimed the transfer was executed at Faden's encouragement to shield the money from creditors and clients.
Faden, whose law license has since been suspended for three years due to unrelated bar complaints, denied any wrongdoing through his legal counsel. A lawyer representing Faden sent us the following statement:
"Mr. Faden is not a defendant in this matter. Mr. Faden has not been accused of any criminal wrongdoing in this matter, and he unequivocally and emphatically denies any wrongdoing... Any monetary transfers were done in his capacity as a practicing attorney. As such, he is bound by the attorney/client privilege and strict rules of confidentiality..."
Court filings show that around $400,000 of those wire-transferred funds were subsequently passed to a company owned by Ciro Martinez, an international business attorney and gem dealer. Martinez stated he was unaware the funds were disputed client money and agreed to turn the full amount over to the court. The remaining funds are unaccounted for.
Watkins, who has an extensive criminal history including domestic violence and battery charges, was released from jail two weeks ago related to a DUI case. Appearing in court last week, Watkins entered a no-contest plea for more charges tied to the DUI and was sentenced to 12 months of probation.
Outside the courtroom, Watkins was confronted by Donna, who doesn’t want to use her last name, one of his former clients seeking answers.
"I’m just here to give my story to stick up for all the other victims he owes money to," Donna said, noting that Watkins offered no statements to her when confronted. "He’s just a deadbeat... we’re struggling and we’re pissed off."
Multiple former clients have shared letters from the FBI with WINK Investigates, showing a possible investigation is underway.
Watkins’ current attorney, Frank Myers, has consistently declined to comment on the ongoing investigations and allegations.
WINK Investigates will keep you updated as we learn more.
If you have a story you’d like WINK Investigates to dig into email us at winkinvestigates@winknews.com or call our tip line at 239-344-5074.
