Welcome to Arrest Stories. A seventy-four-year-old Winter Park man has been arrested in connection with a multi-million dollar Ponzi scheme that allegedly defrauded dozens of Florida investors through fake real estate investment promises. Here's what may have happened.
Jerald Clawson was taken into custody on August twenty-eighth in Orange County after Florida Department of Law Enforcement agents obtained an arrest warrant following a months-long investigation that began in October twenty twenty-three.
According to official reports, Clawson operated through two companies, Azure Waterfront Consulting, LLC and Azure Waterfront Real Estate, LLC, presenting himself as an investment broker to unsuspecting victims. Authorities allege he lured investors into what he called a Fee-note Program, promising extraordinary returns of one hundred to three hundred percent on purported real estate hard money and bridge loans.
The scheme allegedly worked like this: victims would wire funds directly from their bank accounts based on Clawson's promises of guaranteed returns on short-term real estate investments. However, investigators say these funds were never invested as promised but instead used for Clawson's personal benefit in what authorities describe as a classic Ponzi scheme operation.
When the promised loan maturity dates arrived, victims found themselves empty-handed. Reports indicate that Clawson would repeatedly assure investors that payment was coming, even as months passed without any returns materializing.
The investigation reveals that Clawson allegedly obtained several million dollars from his victims through this elaborate deception, disguising his Ponzi scheme as legitimate real estate deals.
Officials didn't mince words about the case. One stated, "This serial con-artist exploited the trust of hardworking Floridians to line his pockets. At seventy-four years old, he is still preying on victims without remorse."
Another official emphasized the commitment to justice, declaring, "Let this be a warning: no matter your age or history, if you exploit Floridians, we will find you, and we will bring you to justice."
All suspects presumed innocent until proven guilty in a court of law. Do not take this report as factual, always verify facts. Thanks for watching Arrest Stories.