Three Palm Beach County men are facing federal charges in a brazen $3.6 million investment fraud scheme that preyed on everyday investors looking to grow their money. T. Jonathan Turner, 52, of Wellington, Florida, Norman M. Strell, 73, also of Wellington, and Scott P. Strochak, 57, of Boynton Beach, Florida, were indicted on conspiracy to commit wire fraud and 15 substantive wire fraud counts (Case No. 19-80073-CR-Rosenberg). The operation, built on lies and false promises, has left 15 victims reeling.
According to the indictment, Turner served as Vice Chairman, President, and Chief Operating Officer of Castleberry Financial Services Group, a shell used to lure investors with glossy claims of being “a leading Alternative Investments Manager” that had deployed “almost $800 million in capital.” In reality, Castleberry was a front. Investor funds were not placed in separate, secure accounts as promised, but instead dumped into a single bank account controlled by Turner and Strell. The money was never invested in real estate or distressed businesses as advertised—it was siphoned off for personal use.
The defendants allegedly used fraudulent marketing materials to sell securities, falsely claiming investor proceeds were “fully bonded and insured.” They hyped Turner’s supposed financial expertise and educational pedigree, while hiding his prior felony convictions for fraud-related offenses. These lies were central to the scam, convincing victims their money was safe. Instead, funds were funneled into personal bank accounts, shell entities, and even accounts belonging to family members.
Investigators say no legitimate income-generating investments were ever made. The entire operation was a Ponzi-like ruse where new investor money covered old promises and personal luxuries. Turner and Strell appeared in court this week—Turner for arraignment, Strell for his initial appearance. Strochak is expected to be arraigned shortly. All three face years behind bars if convicted.
The U.S. Securities and Exchange Commission (SEC) has filed a parallel civil enforcement action against Turner, signaling a broader crackdown. Authorities from the FBI’s Miami Field Office and the Florida Office of Financial Regulation (OFR) led the investigation, with support from the SEC Miami Regional Office. U.S. Attorney Fajardo Orshan praised the collaborative effort, calling it a win for financial accountability.
An indictment is not a conviction—every defendant is presumed innocent until proven guilty in court. Still, the evidence laid out so far paints a damning picture of greed and deception. Court documents and case details are publicly available via the Southern District of Florida’s website at www.flsd.uscourts.gov or http://pacer.flsd.uscourts.gov. The case is being prosecuted by Assistant U.S. Attorney Lothrop Morris.
Related Federal Cases
- Martin Pool Sentenced for Investment Fraud Scheme in Utah · Utah
- Miami Clinic Owner Pleads Guilty to $5.3M HIV Fraud Scheme · Alabama
- Miami Clinic Owners Face Guilty Pleas in $5.3M Medicare Fraud Scam · Alabama
- Miami Clinic Execs Guilty in $5.3M Medicare Fraud Scam · Florida
- Ex-Tax Auditor Plunkett Hit with Tax Fraud Charges · New York
Key Facts
- State: Florida
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News