Indictment Who Is Jonathan Carter
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Jonathan Carter is a former real estate investor who was recently indicted and charged with securities fraud in the U.S. District Court in the Northern District of Mississippi.
According to the indictment, between October 2017 and December 2019, Carter defrauded investors of over $6 million. The indictment alleges that Carter, who is the founder and CEO of Williams and Williams Realty, Inc., operated a Ponzi-style scheme in which he enticed investors with the promise of double digit returns on investments.
Carter allegedly made roughly $4.5 million from investors’ funds and used the money to buy personal items and luxury goods, including a private jet, exotic cars, and a home worth over $2 million. He also allegedly funneled money back to investors to create the illusion of successful investment returns and bolster investor trust.
In addition to the federal indictment, the Mississippi Attorney General Jim Hood filed suit against Carter, alleging that Carter had violated state securities laws. The lawsuit seeks to recover investor funds and enjoin Carter from any future securities fraud.
If convicted, Carter faces a maximum sentence of 20 years for each count of securities fraud and 10 years for each count of wire fraud.
This case serves as a reminder to investors to conduct thorough due diligence before investing with a financial professional. Understanding the risks associated with investments and making sure the real estate professional is registered with the SEC is essential in avoiding securities fraud.