Samuel Sturkie Jackson Jr. Found Guilty of $3 Million Investor Fraud
Samuel Sturkie Jackson Jr. not only faces years in prison, but he must also compensate the victims.
PELION, SC — Investors had high hopes for the money they gave to the owner of Little Giant ATM. But, according to the Justice Department, the aspirations of Samuel Sturkie Jackson Jr., 51, did not involve them.
Instead, authorities said Jackson spent more than $3 million on himself, leaving those investors dry – until the cost of free money caught up with him.
The US Attorney’s Office of South Carolina announced Friday that Jackson will spend 4 years in prison for defrauding investors of his ATM business. He will also have to compensate his victims.
Evidence in the case revealed that, through Little Giant ATM, Jackson solicited investments and promised a monthly rate of return. Prosecutors said the money was supposed to load cash into ATMs and generate profit through transaction fees.
However, prosecutors said between 2015 and 2019, the money eventually ended up in Jackson’s pockets. They said the new wealth then went into personal purchases ranging from trips to Las Vegas to buying cars and even farm equipment.
But the scheme soon caught the attention of not only the South Carolina Law Enforcement Division (SLED), but also the US Secret Service. Jackson was eventually arrested and now, after his conviction, he faces not only years in federal prison, but a 3-year period of court-ordered supervision afterwards. He will also have to pay his victims approximately $3.4 million.
“The US Secret Service remains focused on bringing to justice those who commit financial crimes,” John Hirt, special agent in charge of the Secret Service Field Office at Columbia, said in a statement. “In this case, Samuel Jackson victimized his investors, betraying their trust to carry out his own embezzlement scheme.
Hirt also praised the assistance of SLED and the US Attorney’s Office.
“White-collar crime is costing us all,” said SLED chief Mark Keel. “SLED officers and our law enforcement partners will continue to aggressively pursue those who seek to defraud others.”