Former Naples Man Sentenced for Role in Investment Scam

FL OFR Press Releases

Filed November 17th, 2022

Detected April 7th, 2026

Summary

The Florida Office of Financial Regulation announced that Konstantinos Konstantinou was sentenced to four years in prison and 25 years probation for defrauding an elderly couple through a fake T-Bond investment scheme. Konstantinou must pay $707,395 in restitution. He was not registered as a securities dealer when he solicited the investment.

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What changed

Konstantinos Konstantinou was sentenced for operating an investment scam targeting an elderly couple. He offered to purchase US Treasury Bonds but instead misappropriated the funds, including purchasing a personal residence in Pinehurst, NC. The victims lost more than $700,000. Konstantinou was not registered as a securities dealer at the time of solicitation.

Financial professionals and investors should note that unregistered securities activity carries criminal consequences. The OFR investigates and refers cases for prosecution; this case was investigated by OFR and prosecuted by the State Attorney's Office, 20th Judicial Circuit, Economic Crimes Unit. Anyone suspecting financial fraud should report it to OFR at www.flofr.gov or (850) 487-9687.

What to do next

Report suspected securities violations to the Florida Office of Financial Regulation
Verify securities dealer registration before engaging in investment transactions

Penalties

Four years imprisonment, 25 years probation, $707,395 restitution ordered

Source document (simplified)

Former Naples Man Sentenced for Role in Investment Scam

11/17/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced that Konstantinos Konstantinou was sentenced to four years in prison for his role in a fraudulent investment scheme against an elderly couple. Konstantinou was also ordered to serve 25 years’ probation and to pay $707,395 to his victims. The sentence follows a September 2022 guilty plea.

OFR Commissioner Russell C. Weigel, III said, “Thank you to OFR’s investigative team and the State Attorney’s Office, 20th Judicial Circuit, Economic Crimes Unit, for their diligent efforts in this case. The Office of Financial Regulation will continue to work tirelessly to bring financial criminals to justice.”

Konstantinou offered to purchase United States Treasury Bonds (T-Bonds) for an elderly couple. However, the OFR investigation revealed that Konstantinou misused the investment money, including purchasing a personal residence for himself in Pinehurst, NC. Konstantinou was not registered as a securities dealer at the time he solicited the investment. The victims are estimated to have lost more than $700,000 to this scam.

The case was investigated by the OFR and prosecuted by the State Attorney’s Office, 20th Judicial Circuit, Economic Crimes Unit.

Floridians who suspect questionable financial business practices are encouraged to submit a complaint online at www.flofr.gov, or by calling (850) 487-9687.

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