Anthony Michael Hernandez has been sentenced to three years in prison and ordered to pay $1.8 million in restitution following a guilty plea to charges including organized fraud and exploitation of elderly/disabled adults. The Florida OFR's investigation revealed that Hernandez used deceptive advertising to solicit investments for his company, Oi2GO Media Technologies, Inc., by making false claims about its size and market position compared to major streaming services. The majority of investor funds were ultimately used for personal expenses, with no evidence supporting the claimed network of radio stations.

This case highlights the OFR's enforcement actions against investment fraud, particularly those targeting vulnerable populations. While this is a criminal enforcement action prosecuted by the Florida Attorney General's Office, it serves as a strong warning to financial professionals and companies operating within Florida. Regulated entities should ensure their marketing materials and investment claims are accurate and substantiated, and be aware of the severe penalties, including lengthy prison sentences and substantial restitution orders, for fraudulent activities.