HALLANDALE BEACH, Fla. - A former postal employee was arrested Monday after he solicited potential investors for a fake gold and diamond investment opportunity in Africa, police said.
Lawyer Stanley Jr. is charged with one count of organized scheme to defraud, one count of first-degree grand theft and one count of third-degree grand theft.
The Florida Office of Financial Regulation said Stanley, who worked as a letter carrier for the U.S. Postal Service, solicited investments primarily from resident on his mail route, co-workers and acquaintances.
Investigators said Stanley promised some investors that he would double their investments and guaranteed certain investors millions of dollars in returns. Instead, investigators said Stanley bilked at least $2.1 million from the victims.
In addition to the gold and diamond ventures, investigators said Stanley also persuaded victims to invest in a large-scale infrastructure project for which he claimed to have exclusive contracts with governments in Africa.
Authorities said Stanley spent the majority of the funds on personal living expenses or cash withdrawals.
Stanley was arrested in Hallandale Beach. He was being held at the main Broward County jail on $50,000 bond.
Follow Local 10 News on Twitter @WPLGLocal10
Copyright 2015 by Local10.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.