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[SOS] Evansville man sentenced to 5 years for securities fraud Eric Morgan will serve time after scamming investors for over $600,000
Start Date: 8/8/2017Start Time: 12:00 AM
End Date: 8/8/2017
Entry Description

INDIANAPOLIS (August 8, 2017) — Eric N. Morgan of Evansville has been sentenced to 5 years by the Vanderburgh Circuit Court.  Morgan’s sentencing comes after an investigation led by the Secretary of State’s office.

The investigation began in 2014 when the Secretary of State’s office received a complaint about Morgan.  Morgan was the President and CEO of Liquid Ninja and took more than $600,000 from 3 victims in the Evansville area for investments in his energy drink company, but instead used the money for personal gain.  Neither Morgan nor the product he offered were licensed in the State of Indiana.

“This is not the first time an unlicensed fraudster has conned Hoosiers into an investment scam,” said Secretary Lawson. “We urge investors to do their homework before investing and to contact the Secretary of State’s office if anything seems suspicious.  I would like to thank Vanderburgh Prosecutor Nicholas Hermann for his leadership and hard work in pursuing this case.”

“This is another example of why an individual should always do their due diligence before investing a substantial amount of their hard-earned cash,” said Securities Commissioner Alex Glass.  “Taking the time to research potential investments is an important part of preventing investment fraud.”

Morgan was sentenced to 5 years, to be served as 1 year in the Department of Correction, followed by 4 years on Work Release.  He is ordered to pay $650,024 in total to his 3 victims.

For information on how to avoid becoming a victim of investment fraud, visit www.in.gov/sos.

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Contact Information:
Name: Valerie Warycha
Phone: 317-233-8655
Email: vwarycha@sos.in.gov
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