Platinum Stack Ring

Lakeland Man and Another Floridian Charged in Ponzi Scheme

29.08.11

As illustrated in a thick stack of court records, Sebastian and Risher approached nearly 106 people with the alluring promise of 14 percent-to-124 percent gains on their investments. Described in court records as a career criminal with a penchant for designer jewelry and expensive cars, Risher, a 61-year-old Sanibel man, faces a potential 50 years behind bars, with penalties and restitution to boot, if the SEC gets its way. "We are seeking injunctive relief as well as monetary relief," said Eric I. Bustillo, the regional director for the SEC's Miami bureau. The new civil case, which is intertwined with the criminal case, was filed shortly after Risher pleaded guilty to mail fraud and money laundering.

Source: The Ledger