A business owner is accused of spearheading a semi-truck investment fraud scheme that duped hundreds of victims out of more than $105 million.
Kristopher Lunsford, 46, of Henderson, Nevada, was charged on six charges of wire fraud and two counts of money laundering, according to a September 25 announcement from the United States Attorney’s Office for the Middle District of Florida.
According to officials, Lunsford convinced hundreds of victims to invest in a trucking business by obtaining semi-truck leases.
Victims were misled into believing that Lunsford would handle purchasing, employing, and insuring the trucks “while the investors performed no work and earned passive income,” according to investigators.
As part of the scheme, Lunsford allegedly told victims that they could invest between $25,000 and $40,000 per truck, and in exchange, they would “earn a guaranteed weekly payout, typically in an amount between approximately $1,000 and $1,250, generated from profits of Lunsford’s operation of the trucks.”
The plan generated more than $105 million between December 2023 and May 2025, according to the United States Attorney’s Office.
Authorities suspect that Lunsford utilized $75 million in funds from newer investors to repay older investors. A further $25 million was reportedly spent on real estate, sports cars, jewelry, luxury brand products, private charters, and trips to resorts, casinos, and nightclubs. About $2 million was spent on company expenses and operations.
If convicted, Lunsford faces up to 20 years in federal prison for each wire fraud count and up to 10 years for each money laundering charge.
The federal government will seek an injunction requiring Lunsford to forfeit $105,940,214.93.
The Federal Bureau of Investigation investigated this case.
The US Securities and Exchange Commission has launched a civil enforcement action in Florida against Lunsford, AKL Transport LLC, and Southern Truck Leasing LLC.
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