Call Now For a Free Consultation:
(614) 502-6165

Orlando Man Terry Scott Hyder Gets Prison for Defrauding Elderly Out of Savings in NC FL

Orlando Man Receives 7 Years in Prison for Defrauding the Elderly Out of Their Savings

Terry Scott Hyder, of Orlando, Florida, was sentenced to 84 months in prison late last week after pleading guilty to wire fraud in U.S. District Court in North Carolina. He also was ordered to serve three year of supervised release, and ordered to pay $789,649 in restitution. According to court documents, Hyler defrauded nine elderly investors in Orlando, Florida and Polk County, North Carolina out of their savings in a fraudulent investment scheme that ran from approximately June 2007 through July 2010. Through his company, Sterling and Stratford, LLC, Hyler persuaded the elderly individuals – many of whom he met in connection with Alzheimer’s support groups – to invest in “real estate trusts,” which he said he would set up in their names.Hyler falsely represented that Sterling and Stratford was a legitimate investment business, which could obtain high-yield returns for investors through short-term investments. Once his victims agreed to invest in the purported “real estate trusts,” Hyler presented them with trust documents that specified the amount of money they had given him and an alleged rate of return. Instead of investing the money as promised, however, Hyler used the money for his personal expenses. In order to cover up the investment scheme, he also issued falsified account statements to the victims that showed fictitious interest. None of the funds was ever invested on the victims’ behalf. In total, the nine elderly investors lost $789,000. Hyder pled guilty to running the investment scheme in February 2011. He has been in federal custody since his arrest in August 2010.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram