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Jacksonville real estate broker accused of running a multi-million dollar Ponzi scheme has been arrested after years of searching. Cedric Griffin was taken into custody by the Jacksonville Sheriff's Office, who had been looking for him since 2023. The Securities and Exchange Commission (SEC) filed a civil complaint against Griffin in May 2023, alleging he scammed 103 victims out of nearly $5.9 million through his businesses "G8 Equity" and "G8 RE Capital."

    Griffin also faced an active warrant for organized fraud and was supposed to appear in court for another case involving grand theft, but failed to show up. He now faces five counts of grand theft, one count of organized fraud, and a civil lawsuit from the SEC.

    According to police, Griffin's scheme involved failing to pay commissions to other agents, totaling around $250,000. Assistant State Attorney Adam Duso stated that over 50 people, including professional athletes and politicians, invested in Griffin's businesses, with some losing up to $1 million.

    Griffin allegedly spread the money among more than 60 bank accounts, making it difficult to track. Jacksonville attorney Shannon Schott said Griffin will likely remain in jail due to his failure to appear in court and a no-bond capias warrant. Victims may file civil lawsuits to recover their losses, but under Florida law, many assets cannot be seized in financial crime cases.