Investigators say Cedric Griffin swindled dozens of people who invested nearly $6 million with him in what they thought were real estate deals.
– The Jacksonville Sheriff’s Office is looking for a man accused of running a multi-million dollar Ponzi scheme.
Griffin is facing five counts of grand theft, one count of organized fraud, and a civil lawsuit brought by the U.S. Securities and Exchange Commission.Duso said prosecutors spent nearly 18 months preparing to take Griffin to trial on five counts of grand theft. The charges are related to the allegation that Griffin, as a real estate broker, failed to pay five other agents a total of about $250,000 they were owed in commission, Duso said.
According to the state attorney’s office and a civil law lawsuit from the SEC, Griffin convinced dozens of people to invest their money with him in 2020 and 2021, promising high returns on real estate deals that never actually happened. Among them, he said, were people associated with professional athletics in Jacksonville and local politicians.Duso said Griffin spread the money among more than 60 bank accounts.
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