Tampa residents among hundreds scammed in $105M fake truck Ponzi scheme: DOJ

TAMPA, Fla. - Federal authorities unsealed an indictment charging Georgia resident Kristopher Lunsford in a $105 million Ponzi scheme that defrauded over 500 investors nationwide.

Federal Ponzi scheme indictment

What we know:

Federal authorities unsealed an indictment charging Krisopher Lunsford with six counts of wire fraud and two counts of money laundering. Lunsford owned and operated AKL Transport LLC, AKL and Associates Inc., Southern Truck Leasing LLC and Southeast TT Rentals LLC.

U.S. Attorney Greg Kehoe announced the charges against the Georgia business owner following an investigation into operations spanning from December 2003 through May 2025. Authorities arrested Lunsford on Wednesday in Nevada.

According to Kehoe, Lunsford told investors they could buy semi-truck leases for $25,000 to $40,000 in exchange for guaranteed weekly payouts of $1,000 to $1,200. The pitch promised returns up to 260% on passive income investments.

"As an aside ladies and gentlemen, if you find an investment that’s paying you 260% legitimately, I suggest you take it," Kehoe said. "Of course, this was a Ponzi scheme and nowhere near that number was achievable."

Kehoe said Lunsford claimed he managed all operations, including purchasing trucks, hiring drivers and securing insurance. He promised investors he had 2,000 trucks, but he actually owned about 20, many of which were broken down and unusable, according to Kehoe.

Lunsford expanded the operation using brokers to recruit new investors across the country. Kehoe said rather than generating actual business profits, Lunsford used $75 million from new investors to pay off early financial backers.

Multi-million dollar fraud expenses

By the numbers:

Lunsford spent more than $25 million funding a lavish personal lifestyle, according to federal authorities. Kehoe said Lunsford spent $4.1 million on resorts and casinos, $4 million on nightclubs and bars, $3.7 million on personal properties and $2.5 million on private charters.

"This guy spent over $25M on his luxury lifestyle," Kehoe explained. "He spent money on real estate, Lamborghinis, jewelry, various luxury items. As I said, his charter flights to Las Vegas, which is where in fact he was arrested yesterday. He spent millions at resorts, casinos, etc."

Authorities noted Lunsford bought one bottle of champagne priced between $75,000 and $91,000. He held $9.1 million in cash, $2.9 million in jewelry and $720,000 in luxury vehicles, while spending just $2.1 million on actual business-related expenses, according to federal authorities.  

The scheme collapsed when payments stopped and investors contacted the FBI. Lunsford faces up to 20 years in prison for each count of wire fraud and up to 10 years for each count of money laundering.

Expanding victim pool investigation

What we don't know:

Authorities have identified 500 victims so far, but officials expect that total to reach 600 or more as the investigation continues. Kehoe noted that total investor losses could rise from $105 million to $125 million.

Officials have not yet confirmed the final breakdown of all victims nationwide, though many lived in Tampa where Kehoe said Lunsford frequented local nightclubs.

"No investment on God’s green Earth is ever going to pay you that kind of money," Kehoe said. "The message here of course is, if it sounds too good to be true, it is."

The FBI office in Tampa led the investigation with assistance from field offices in Georgia and Nevada.

What you can do:

Anyone who believes they are a victim and has not already completed the FBI’s online questionnaire, is asked to visit https://forms.fbi.gov/victims/TruckLeaseFraud/view. 

Anyone with questions regarding the questionnaire, can email TruckLeaseFraud@fbi.gov. Information about victims’ rights and upcoming hearings is available at www.justice.gov/usao-mdfl/kristopher_lunsford. 

TampaCrime and Public Safety