Homosassa, Florida — Following a lengthy investigation, the United States Marshals Service arrested Joseph Michael Todd, 60, on a Citrus County warrant for investment fraud.
Detective Rob Ramos with the Citrus County Sheriff’s Office (CCSO) High Tech Crimes Unit (HTCU) headed up the investigation.
Following the initial report received by CCSO, multiple victims were identified, many of which lost hundreds of thousands of dollars Todd was supposed to invest.
Detective Ramos’ investigation revealed that Todd would have his victims write checks to him personally instead of the financial firms he represented.
Todd would then use the victim’s money for his own gain.
According to the arrest affidavit, Todd has been involved in the investment industry in Citrus County for several decades and has worked for multiple different investment firms during that time.
Todd’s victims include numerous Citrus County residents and business owners who placed their trust in his decades of experience in the local area.
Todd was picked up in Bay County.
He is charged with one count of Scheme to Defraud $50,000.00 or more, six counts of Grand Theft of $100,000.00 or more; and one count of Grand Theft of under $20,000.00.
Todd is being held without bond.
