LARGO - The eighth suspect in an investment scam surrendered to authorities Thursday.
Robert C. Taylor, 46, of Madeira Beach, was booked into the Pinellas County Jail on Thursday morning after turning himself in, said Rick Morera, a spokesman for the Florida Department of Law Enforcement. Taylor was being held at the jail Thursday evening in lieu of $500,000 bail.
Earlier this week, FDLE agents arrested seven of Taylor's former colleagues at Palm Beach Investment Group. Agents said the group bilked about 20 elderly residents in Pinellas and Pasco counties out of more than $800,000.
Agents said the Pinellas group was part of an organization that defrauded more than 100 elderly people, many in the Tampa Bay area, of more than $5-million.
Agents said Taylor and his colleagues sold unlicensed stock to seniors with promises of high yields. The money instead was used to pay commissions and to pay off other investments, arrest records state.
