Feds: Florida man swindled Naperville investor out of $125K

SHARE Feds: Florida man swindled Naperville investor out of $125K

A Florida man has been charged with running a Ponzi scheme and taking in more than $2 million, including a quarter of a million from an investor in the western suburbs.

Richard L. Thompson, 60, of Sarasota, Florida, has been charged with one count of wire fraud, according to a complaint filed Tuesday in U.S. District Court in Chicago.

Thompson induced investors to purchase shares in his real estate company, Latten Management LLC, and to personally loan him money under the premise that he owned more than two hundred acres of property in Tennessee, according to the statement from prosecutors.However, his company did not own any real property.

He took in about $2.1 million in the scheme, including $125,000 from an investor in west suburban Naperville, according to prosecutors.

The investor transferred the money from personal retirement savings to an account in Sarasota to purchase shares in Latten, according to the statement.

If convicted, Thompson faces a maximum of 20 years in prison and a maximum fine of $250,000 or twice the gross gain or gross loss resulting from the offense, whichever is greater.

The Latest
Herbert more than filled in for Montgomery, running 20 times for 157 yards.
“Today was the worst one,” Cairo said of the Sox’s sixth consecutive loss.
Having a franchise quarterback matters more than anything in the NFL, and the single greatest priority for the Bears this season is to determine whether Fields is that guy. It doesn’t look promising at the moment.
After a relatively slow start in 2022 following a training camp contract “hold-in,” Smith had a breakout game Sunday — 16 tackles, two tackles for loss and a fourth-quarter interception that paved the way for victory. “[From] here on out you can expect some big things.”
Pitching should be on the list of the Cubs’ offseason priorities.