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Young Scammer Stole $655K from 64 Investors
6 Aug
Summary
- A North Carolina man, 25, received a 3 1/2-year prison sentence.
- He defrauded at least 64 investors, stealing over $655,000.
- Haithcock impersonated a registered advisor to lure victims.
Hunter Haithcock, a 25-year-old from North Carolina, was sentenced to 3 1/2 years in federal prison for a sophisticated investment fraud scheme. Between September 2019 and October 2022, Haithcock targeted at least 64 investors, accumulating over $655,498.
Operating under the guise of a registered investment advisor, Haithcock falsely claimed affiliation with TD Ameritrade and used another advisor's credentials. He also used the alias "Hunter Elliot" to interact with clients. Haithcock lured victims through referrals and even a local church, promising exorbitant returns of 100% to 200% on their investments.
Instead of investing the funds, Haithcock misappropriated the money for personal use, including credit card bills, entertainment, car payments, and travel. He provided victims with fabricated 'statement reports' and fake portfolio gains to conceal his illicit activities. When investors sought their principal or questioned returns, Haithcock fabricated excuses, eventually ceasing communication.
