ST. JOHNS COUNTY, Fla. – A St. Augustine man will spend more than six years in federal prison after stealing more than $2 million from a 75-year-old woman through a yearslong fraud scheme.
A judge sentenced Eric James Stone, 43, to six years and eight months in federal prison for wire fraud and money laundering. Stone was also ordered to pay $2,037,103 in restitution to his victim. He pleaded guilty March 24.
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Stone, who worked as a financial advisor, used his position to befriend the elderly victim and solicit money from her over approximately three years. During that time, he convinced her to make more than 600 transactions totaling more than $2 million. To carry out the scheme, Stone sent fraudulent emails posing as attorneys, banks and other entities. He spent most of the stolen money on foreign gambling websites.
“Our seniors are among our nation’s most vulnerable population and must be protected,” said U.S. Attorney Gregory W. Kehoe. “The defendant in this case used his position of trust to deliberately deceive and exploit the victim for his own personal gain. For that, he will be punished for his crimes.”
“Every dollar stolen is a story of hardship for the victim, and IRS-CI is dedicated to making sure those stories end with accountability,” said Ron Loecker, special agent in charge of IRS Criminal Investigation’s Florida Field Office. “Our agents’ expertise in tracing complex financial transactions is unmatched. IRS-CI special agents are the backbone of financial crime enforcement.”
“Stealing $2 million isn’t just a financial crime, it’s a betrayal of trust that has life-altering consequences for a victim long after the crime is committed,” said FBI Jacksonville Special Agent in Charge Jason Carley. “This sentence sends a clear message: fraudsters who think they can lie and steal will face the consequences of their actions. The FBI will work with our partners to ensure those who exploit others for financial gain are brought to justice. You can’t hide from accountability.”