Attorney General James Uthmeier said that an Orlando man has been charged with organizing a $5.3 million Ponzi scheme that defrauded at least 10 people.
The Florida Department of Law Enforcement detained Jerald Clawson in Orange County on August 28th.
“This serial con-artist exploited the trust of hardworking Floridians to line his pockets. At 74 years old, he is still preying on victims without remorse,” said Attorney General James Uthmeier. “Let this be a warning: no matter your age or history, if you exploit Floridians, we will find you, and we will bring you to justice.”
According to Uthmeier, Clawson would defraud several “investors” in purported real estate “hard money” loans or “bridge loans.”
Clawson would represent himself as an investment broker through Azure Waterfront Consulting, LLC, with backing from Azure Waterfront (Real Estate), LLC, and would offer a “free-note program.”
According to the AG, victims told investigators that Clawson promised them 100-300% returns on their investments.
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