James Leonard Craft, of Century, Florida, recently pleaded guilty to one
count of securities fraud for an alleged investment scheme that affected
investors in several counties in Alabama, including Cullman County and
Shelby County. Although Craft is awaiting sentencing, the court is looking
into his ability to make restitution to his alleged victims in the amount
According to court documents, Craft is accused of using his Century Lumber
& Land company to fraudulently solicit money from Alabama investors.
Craft allegedly told his investors that their money would be used to purchase
South American wood products that would later be resold to distributors
in the United States for the purpose of manufacturing railroad cross ties
and other products. However, Craft admitted in court that he intended
to use the money he took from investors for himself, and investors’
cash was allegedly not used to invest in wood products.
Additionally, Craft was not registered to sell securities in Alabama, nor
was Century Lumber & Land.
The securities fraud lawyers with Meyer Wilson would like to remind you
to always do your research before making an investment, including checking
to make sure your broker is registered in your state. If you have already
become the victim of securities fraud, please don’t hesitate to
contact us for more information about your rights and options when it
comes to recovering your losses. Just give us a call today at our toll-free
number, or simply fill out our confidential online contact form.