Pinellas County Man Sentenced to 5 Years in Prison for Role in $6 Million Ponzi Scheme

Gary Gauthier, of Seminole, was sentenced to 5 years in prison to be followed by 15 years of probation for his role in a Ponzi scheme that defrauded Florida investors out of more than $6 million. The sentencing follows a guilty plea to charges of racketeering, conspiracy to engage in a pattern of racketeering activity, sale of unregistered securities, sale of securities by an unregistered dealer, securities fraud, and organized fraud. Gauthier’s co-conspirator and a former CPA, David Dreslin pled guilty to charges of racketeering, sale of unregistered securities, securities fraud and organized fraud for his role in the scheme. Gauthier and Dreslin were ordered to pay $6,252,469.79 in restitution.

From 2005 through 2009, Gauthier and Dreslin were engaged in a Ponzi scheme, soliciting investors for various real estate development projects. Dreslin would convince victims to purchase shares in real estate projects promising large returns in a short period of time. Gauthier promoted the investments on a radio program he co-hosted called “It’s God’s Money.” Gauthier would discuss religion, real estate investment opportunities, and the other co-host’s expertise as a financial adviser and investor who profited significantly from Gauthier’s real estate investments. Gauthier and Dreslin stole more than $6,000,000 from 33 Floridians. The investigation revealed that Gauthier and Dreslin would use victims’ money to make “payments” to other investors.

The case was investigated by the OFR and the Tampa Office of the Florida Department of Law Enforcement. The case was prosecuted by the Attorney General’s Office of Statewide Prosecution.