Former 'Liquid Ninja' CEO pleads guilty to fraud
An Evansville man pleaded guilty to fraud charges Wednesday and admitted soliciting investments in an energy drink company but using the funds for personal expenses.
Vanderburgh Circuit Court, Eric N. Morgan, 33, pleaded guilty to five counts of security fraud, as well as one count each of check fraud and fraud on a financial institution.
Investigators believe Morgan took a total of $600,000 from four investors without telling any of them he was not registered to sell securities, or that the Liquid Ninja company was not a registered security with the Indiana Secretary of State’s office, according to court records. Morgan was CEO of the company at the time. The company is no longer in business.
Morgan was to have gone on trial Feb. 27 in the case. He will now be sentenced at 9 a.m. May 15 after reaching a plea agreement with the Vanderburgh County Prosecutor's Office and the Indiana Secretary of State. The charges range from level 5 and 6 felonies to class C felonies (because the crimes occurred before July 1, 2014 under Indiana's old criminal code).
Read more: http://www.courierpress.com/story/news/crime/2017/02/22/former-liquid-ninja-ceo-pleads-guilty-fraud/98244232/
