ORLANDO, Fla. (WFLA) – An Orlando man has been charged with organizing a $5.3 million ponzi scheme that defrauded at least 10 people, Attorney General James Usmier announced.
Gerald Clawson was arrested on August 28th by the Florida Department of Law Enforcement in Orange County.
“This series of contist exploited the trust of a hardworking Floridian to line up in his pocket. At age 74, he is still eating victims who have no regrets,” Attorney General James Usmier said. “Let’s make this a warning. If you exploit Floridians, regardless of age or history, we will find you, and we will bring you to justice.”
According to Uthmeier, Clawson scams multiple “investrs” with real estate “hard money” or “bridge loans.”
Clawson represents himself as an investment broker through Azure Waterfront Consulting and LLC, and is supported by Azure Waterfront (Real Estate), LLC, where he offers a “free note program.”
According to the AG, the victim told investigators that Clawson promised a 100-300% return on the investment.
Clawson assures victims that the loan will be paid when it passes due.
According to Uthmeier, months have passed and the victims have never received any benefits.
Most of the victims interviewed were at the out-of-pocket costs Clausson from their bank accounts.
Clawson faces felony charges, including:
Scheme that fraudulent sales of fraud over $50,000 (more than 5 victims)
Each claim has a maximum penalty of 30 years in prison and a fine of up to $10,000.
