JACKSONVILLE, Fla. – Authorities are still trying to track down a Jacksonville man who has been accused by the Securities and Exchange Commission (SEC) of running a multi-million dollar Ponzi scheme.
A civil complaint was filed by the SEC against Cedric Griffin, 47, in May that accused him of scamming 103 victims into investing nearly $5.9 million into his businesses, “G8 Equity” and “G8 RE Capital,” from January 2020 to at least December 2021 in what the government said turned out to be a Ponzi scheme.
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He also had an active warrant for organized fraud in state court and around the same time, was supposed to show up in court for a hearing in another criminal case involving grand theft, but didn’t show.
Since May, federal investigators have been trying to serve him with the SEC complaint. Normally, they have 90 days, but in August, they asked for an extension because Griffin had been “evading” service. The judge granted an extension until Oct. 31.
On Tuesday night, the SEC filed a motion again to ask for an extension because it still can’t find Griffin.
Here is what investigators have been doing since mid-August, to try to find him:
- Surveillance at a specific location where he might be located
- Attempting to find him at business locations outside of Florida, and identifying three additional locations within Florida
- Reviewing court records and testimony in other cases he was involved in, to identify other locations where he may be hiding
- Identifying additional associates with whom he may be hiding, including the identity of additional family members and 9 additional people
Lawyers didn’t identify specific locations and methods, because they didn’t want Griffin to be able to get any clues as to how they were trying to track him down.
RELATED: ‘I think Mr. Griffin needs to turn himself in’: Jacksonville man wanted on fraud, theft charges
Griffin’s last known address as of 2021 was a 3,700-square-foot, five-bedroom home located in Deerwood Country Club on the southside of Jacksonville, according to Duval County court records.
Federal investigators are now asking for an additional 60 days in order to employ “advanced technology methods and ongoing surveillance through a private investigation firm.”
The investigator told attorneys it would take at least two to four weeks which may still not be enough.
Thursday afternoon, a judge granted the request, giving the SEC until Jan. 2, 2024 to serve Griffin with the complaint.
