Dive Brief:
- A criminal complaint and a separate Securities and Exchange Commission investigation alleged Nevada resident and business owner Kristopher Lunsford led a Ponzi scheme through two Dacula, Georgia-based trucking businesses, AKL Transport and Southern Truck Leasing.
- According to the criminal complaint, Lunsford pocketed about $33 million for personal use, redirected about $75 million to pay earlier investors and used $2 million of the investors’ funds on business operations. The alleged scheme involved approximately 765 investors and lasted from December 2023 through May 2025, according to federal prosecutors.
- “In exchange for investors agreeing to fund the truck leasing business, Defendants promised a net weekly return of $1,250 per truck assigned to them for a five-year investment term—equating to approximately 260% annually on the required $25,000 initial investment,” the Sept. 24 criminal complaint said.
Dive Insight:
The passive income investors thought they’d received came from misrepresentations, such as AKL saying it had 2,000 commercial trucks, according to the SEC.
The criminal charges involve six counts of wire fraud and two counts of money laundering, but they do not prove wrongdoing, prosecutors noted.
“An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless, and until, proven guilty,” prosecutors said in an announcement of the case.
Lunsford, who used to live in Dacula, allegedly told investors he would handle the business’ operations, such as purchasing and insuring semi-trucks and hiring drivers. The criminal complaint also named other businesses connected to Lunsford, of Henderson, Nevada.
Other cases of alleged wrongdoing have also escalated this year. A Georgia accounting business was charged with bank fraud and tax violations in August. A Florida businessman convicted in 2024 received a judgment in February 2026 to pay over $51 million in restitution.
