Man ordered to pay $650K to bilked Liquid Ninja investors
Aug. 09, 2017
EVANSVILLE, Ind. (AP) — An Evansville man has been ordered to pay $650,000 in restitution for stealing money he solicited from investors for his energy drink company.
That comes after 33-year-old Eric Morgan pleaded guilty to felony fraud charges in a scheme in which he was falsely raising money for the Liquid Ninja drink company and spending it on personal expenses. A Vanderburgh County judge also sentenced Morgan to a year in jail and four years of work release.
Morgan was CEO of the company that is no longer in business.
Defense attorney Shaunda Lynch tells the Evansville Courier & Press that Morgan is now working a construction job and provided a $10,000 payment Tuesday for distribution among the investors.
Information from: Evansville Courier & Press, http://www.courierpress.com