ST. JOHNS COUNTY, Fla — An ex-employee of Fidelity Investments in Jacksonville is under investigation for fraud and money laundering, with accusations stating that he swindled a former client out of $2 million, which he allegedly spent on gambling, personal travel, and repaying debts.

The U.S. Attorney’s Office in the Middle District of Florida announced on Wednesday that Eric James Stone, 42, is facing an indictment with charges including 10 counts of fraud and five counts of money laundering.

According to court documents, Stone was dismissed from Fidelity Investments in June 2021 following claims that he solicited and received loans from his clients. Records indicate that Stone was employed as a registered representative with the financial industry’s regulatory authority at Fidelity in Jacksonville since 2007.

Prosecutors allege that after his dismissal, Stone continued to solicit funds from former clients through personal loans, which he subsequently did not repay.

One former client loaned money to Stone and later discovered he was under scrutiny for failing to settle previous loans, as per prosecutors. Stone is accused of creating counterfeit email accounts, sending fraudulent text messages, and feigning the hiring of lawyers to further deceive the client.

The fraudulent activities allegedly took place between November 2022 and August 2024. During this period, the former client reportedly gave Stone over $2 million, which prosecutors claim he spent on gambling, personal trips, and clearing personal debts.

The Federal Bureau of Investigation in Jacksonville believes Stone could have defrauded additional victims. Anyone who believes they were defrauded by Stone is asked to contact FBI Jacksonville at 904-248-7000 or submit information here.