More Than $2 Million From About 27 Investors: Florida Man Jedidiah Harris Charged With Securities Fraud in Ponzi Scheme, Agrees to Plead Guilty
The U.S. Attorney's Office for the Northern District of Alabama announced that Jedidiah Michael Josiah Harris, 37, of Sanford, Florida, has been charged with securities fraud for operating a Ponzi scheme that defrauded investors of more than $2 million. A plea agreement filed with the one-count information indicates that Harris has agreed to plead guilty, and the court will set a date for his plea.
Prosecutors said that between 2022 and 2025, Harris used two companies he controlled, The Invictus Group, LLC and Pivot Global Analytic, LLC, to execute the scheme. He presented himself as a successful investor and options trader who could earn unusually high returns for clients through his investment strategies.
According to the information and plea agreement, Harris told investors their money would be pooled with his own funds and those of other investors and invested in options tied to the S&P 500, and falsely claimed they would receive returns of 10% to 40% per month. He also sent investors fraudulent monthly statements showing extraordinary returns.
Prosecutors said Harris did not invest the clients' money as promised and instead used it for personal use. Over the course of the scheme, he defrauded approximately 27 victims in Alabama and elsewhere of more than $2 million in total.
U.S. Attorney Phillip W. Williams Jr. said protecting investors and maintaining confidence in financial markets are important priorities, and commended the Alabama Securities Commission's investigative work and partnership. Assistant U.S. Attorney Ryan Niedermair said the office will hold accountable anyone who takes advantage of hard-working Americans for personal gain.
David R. Fitzgibbons, Special Agent in Charge of the FBI's Birmingham Division, said Harris preyed on 27 investors and stole more than $2 million through a deliberate and calculated Ponzi scheme. Alabama Securities Commission Director Amanda Senn said that whenever someone promises or guarantees high returns, red flags should go up.
The FBI and the Alabama Securities Commission investigated the case. Assistant U.S. Attorneys Ryan P. Niedermair and John B. Ward are prosecuting, with assistance from Alabama Assistant Attorneys General Steve Feaga and George Martin. An information contains only charges, and Harris is presumed innocent unless and until proven guilty.
Source: U.S. Attorney's Office for the Northern District of Alabama press release
Source: GSM · USA (original Chinese edition)
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