A Florida man has pled guilty to his part in defrauding investors through a company called Peoples Equity Group, an investment company based in Miami, Florida, that operated from 2021 to 2024.
According to information presented in court, 34 year old Dakota Smith of Miami Florida and his co-conspirator defrauded investors by soliciting to investors that they would obtain ownership interests in the companies owned by Peoples Equity Group and its affiliated entities.
Over the course of three years, he reportedly stole over 27 million dollars.
As a part of the scheme, Smith presented fraudulent financial documents showing the financial success of the acquired companies while on monthly video calls with investors located across the U.S, including investors in West Tennessee and abroad.
He is scheduled to be sentenced on March 6th, 2026 and faces up to 20 years in federal prison.
