JACKSONVILLE, Fla. — Eric Stone, of St. Augustine, a former employee of Fidelity Investments, has been indicted on charges of fraud and money laundering, according to a news release from the U.S. Attorney’s Office, Middle District of Florida in Jacksonville.
Stone faces 10 counts of fraud and 5 counts of money laundering, with potential penalties of up to 20 years for each fraud charge and 10 years for each money laundering charge, the news release states.
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The indictment alleges that Stone solicited loans from his former clients after being terminated from Fidelity Investments in June 2021. He promised to repay these loans but failed to do so, defrauding one victim of over $2 million.
Stone allegedly used the funds for gambling, personal travel, and to pay off personal debts, the news release states. He also used fake email accounts and text messages to deceive his victims, the news release states.
The investigation is being conducted by the Internal Revenue Service—Criminal Investigation and the FBI, with assistance from several other agencies, the news release states.
The FBI is asking people who believe they have been defrauded by Stone to contact them here.
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