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FBI warns that investment fraud scheme may have Gainesville area victims

GAINESVILLE — The FBI suspects there may be numerous victims in the Gainesville area of an investment fraud scheme.

Elmer Swain Stewart, 64, of Cleveland was arrested Feb. 12 on federal charges of wire fraud. He is accused of taking investment money for timber rights and other real estate deals “that do not exist,” according to a news release from the FBI.

“Documents that were recently seized indicate that there were other victims that were not aware of Stewart’s arrest and its relevance to their business transactions with him,” the news release states.

Anyone who believes they may have been a victim can contact the FBI Atlanta Field Office at (404) 679-9000.