Federal prosecutors charged Kristopher Lunsford with wire fraud and money laundering as the SEC pursued a parallel civil case.
TAMPA, FL — A former Georgia businessman has been indicted on federal charges accusing him of running a $105 million semi-truck investment scheme that drew hundreds of investors, including people in the Tampa area, with promises of large weekly returns, federal authorities said.
Kristopher Lunsford, 46, of Henderson, Nevada, was charged with six counts of wire fraud and two counts of money laundering, the U.S. Attorney’s Office for the Middle District of Florida announced Friday. Prosecutors allege Lunsford and others collected more than $105 million from investors between December 2023 and May 2025. The government is seeking forfeiture of $105,940,214.93, which prosecutors describe as proceeds from the alleged fraud. Lunsford is presumed innocent unless proven guilty.
The criminal case centers on an investment program in which people were offered leases tied to semi-trucks. According to the indictment, investors typically put up between $25,000 and $40,000 for each truck and were promised guaranteed weekly payouts of about $1,000 to $1,250. Investors were told Lunsford would handle the operation, including buying trucks, hiring drivers, obtaining insurance and putting the vehicles to work, allowing investors to earn passive income.
Federal prosecutors allege the promised returns did not come from profits generated by a large trucking operation. Instead, they say about $75 million from newer investors was used to make payments to earlier investors. Prosecutors also allege more than $25 million went toward Lunsford’s personal expenses and enrichment, including real estate, sports cars, jewelry, luxury goods, private charters and spending at resorts, casinos and nightclubs. About $2 million of investor money was spent on business-related operations and expenses, according to the Justice Department.
The Securities and Exchange Commission filed a separate civil case that describes a broader alleged scheme. The SEC said Lunsford, AKL Transport LLC and Southern Truck Leasing LLC raised at least $127 million from about 765 investors nationwide from at least May 2023 through May 2025. The agency said many of those investors lived in the Tampa area. The different dollar figures reflect the scope and allegations of the separate criminal and civil proceedings.
According to the SEC complaint, Lunsford and sales agents told investors their money would be used to buy commercial semi-trucks at discounted prices and prepare them for trucking operations. Investors were told they could receive a net return of $1,250 per week for each assigned truck over a five-year investment term. On a typical initial investment of $25,000, the SEC said that represented a promised annual return of about 260%.
The SEC alleges the companies did not have the trucking operation represented to investors. Lunsford and his companies claimed to operate about 2,000 trucks, but company records identified far fewer vehicles, according to the agency. The SEC complaint also alleges that lease agreements issued to different investors sometimes contained duplicate vehicle identification numbers. Bank records showed less than $3 million entering company accounts during the relevant period appeared to come from legitimate business revenue or proceeds, the SEC said.
The SEC alleges at least $52 million in investor money, representing about 40% of deposits covered by its complaint, was diverted to make payments to earlier investors. The agency separately alleges Lunsford diverted about $33 million for personal use. That included nearly $10 million in cash withdrawals, about $3.5 million for travel, $2.7 million at bars and nightclubs and at least $1.9 million in casino-related expenses, according to the civil complaint.
Tampa played a direct role in the alleged solicitation effort, according to the SEC. The agency said some of the early investors were people Lunsford knew personally or met at bars and nightclubs in the Tampa area. The complaint also says he pitched the investment to about 20 prospective investors at a barbershop in central Florida. The operation later expanded through outside sales agents, social media advertising and virtual presentations, according to the SEC.
The SEC said many investors stopped receiving payments in March 2025. Some then sought possession of the trucks they believed they had leased but were unsuccessful, according to the complaint. The agency alleges investors were given explanations that included bank wiring problems and a purported freeze of company funds. By April 2025, the defendants had stopped responding to many investor inquiries, and by about May 2025, the operation no longer had enough money to continue investor payments without additional funds from new investors, the SEC said.
Lunsford, AKL Transport and Southern Truck Leasing have consented, without admitting the SEC’s allegations, to proposed judgments in the civil case that remain subject to court approval. The SEC said a court would later determine whether to order disgorgement, prejudgment interest or a civil penalty. In the criminal case, Lunsford faces a maximum of 20 years in federal prison on each wire fraud count and up to 10 years on each money laundering count if convicted. The FBI investigated the criminal case, and federal authorities said the investigation into affected investors remains active.
Author note: Last updated September 26, 2026.