JACKSONVILLE, FL – Eric James Stone, 42, of St. Augustine, is facing federal charges after allegedly fleecing former clients out of over $2 million. United States Attorney Gregory W. Kehoe announced the indictment today, detailing a brazen scheme built on broken trust and outright lies.
Stone is charged with ten counts of fraud – encompassing both wire and mail fraud – and five counts of money laundering. If convicted on all counts, Stone could face a combined maximum sentence of 200 years in federal prison. The indictment alleges Stone began his criminal activity after being fired from Fidelity Investments in June 2021, reportedly due to initial allegations of soliciting loans from clients.
But termination didn’t stop Stone. Instead, court documents reveal he actively sought personal loans from his former clients, promising repayment that never materialized. One victim alone was swindled out of more than $2 million. The scheme escalated with Stone fabricating elaborate stories about investigations into the funds, inventing fees and costs to further delay and extract money from the victim. He allegedly created fake email accounts, sent bogus text messages, and even pretended to hire attorneys – all to perpetuate the fraud.
Where did the stolen money go? According to prosecutors, Stone used the $2 million to fuel a lavish lifestyle of gambling, personal travel, and to cover his own debts. The scheme wasn’t a one-off; it was a sustained effort to exploit those who once trusted him. The indictment paints a picture of a man who saw former clients not as individuals, but as ATMs.
The investigation, a collaborative effort between the Internal Revenue Service—Criminal Investigation, the Federal Bureau of Investigation, the United States Postal Inspection Service, the United States Secret Service, the St. Johns County Sheriff’s Office, and the Florida Department of Corrections, has brought Stone to the brink of facing justice. Assistant United States Attorney John Cannizzaro is prosecuting the case. An indictment is not a conviction; Stone is presumed innocent until proven guilty in a court of law.
Have you been victimized by Eric James Stone? The FBI-Jacksonville Office is asking anyone with information to come forward. Contact them at 904-248-7000 or submit tips online at https://tips.fbi.gov/home. This isn’t just about recovering stolen money; it’s about holding a predator accountable.
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Key Facts
- State: Florida
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source ↗
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