Orlando Business Journal – An Orlando stockbroker has been sentenced to more than four years in prison for cheating investors out of more than $6.6 million involving two hedge funds.
Charles Norman Watson, 39, was sentenced to 50 months in prison and ordered to pay restitution to swindled investors by U.S. District Judge John Antoon.
Watson, a licensed stockbroker, pled guilty earlier this year to one count of money laundering. He admitted to spending $1.4 million out of more than $4.2 million that he helped raise for Global Capital Fund Ltd., a hedge fund he started.
According to court records, Watson’s purchases included a new home, new automobiles and diamond earrings for his spouse.
