Fort Myers Man Sentenced to Five Years in Prison for Promissory Note Scam

Eric Levitt was sentenced to five years in prison, followed by 20 years of probation, after a guilty plea, for his role in a fraudulent promissory note investment scheme. He was also ordered to pay more than $570,000 in victim restitution.

Levitt, former manager of Gulf Coast Settlements LLC, executed several promissory notes with proceeds payable to his company from an investor’s funds without the investor’s knowledge or consent. Further, he allegedly offered the victim promised monthly returns between eight and nine percent. After the monthly income stopped, he was unresponsive to the victim’s inquiries, and the victim discovered that Levitt intercepted investment firm correspondence through a fraudulent email address in the victim’s name.

The OFR was the sole investigative agency in this criminal enforcement case, and the Florida Department of Financial Services, Criminal Investigations Division executed the arrest warrant. The case was prosecuted by the Lee County State Attorney’s Office.