A Columbia man who cheated an elderly victim out of $150,000 and lied in court about being a Navy SEAL will serve probation for his crime.
Stan Ray Hudgins pleaded guilty to felony securities fraud after portraying himself as a successful businessman and presenting fake investment opportunities to an elderly victim, according to a news release Friday from S.C. Attorney General Alan Wilson’s office.
Hudgins met his victim through the victim’s son, who worked for Hudgins, according to the AG.
Hudgins convinced the elderly victim to give him money that he promised to invest in new businesses. But in one case, according to the AG’s office, Hudgins did not buy the business he said he would and yet sought more money from the victim to run that business he never bought.
At his plea hearing, Hudgins “attempted to continue the charade by telling the court he was a former Navy SEAL and planning to use his VA benefits to send his grandchildren to college,” the AG’s Office said in the news release. However, Hudgins was not a Navy SEAL and had lied to the court, “just as he had to the elderly victim,” the AG’s office said.
Hudgins was sentenced to 10 years suspended to five years of probation with conditions. He is ordered to repay $150,000 to his victim.
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