NAPLES — David Locke Gothard of Naples was sentenced to more than two years in state prison following a guilty plea to securities fraud and grand theft.
Gothard claimed to be an inventor with multiple patents, according to a statement from the Florida Office of Financial Regulation. Authorities contended Gothard told investors that shares in his digital advertising display business, Activision TV Inc., were registered, and that investor money would be used to advance the business. “The investigation revealed, however, that investors' money was used by Gothard for personal expenses,” the OFR release states.
Gothard's prison sentence, according to the statement, will be followed by 10 years of probation. He was also ordered to pay $115,000 in restitution to his victims.
“Ensuring Florida's financial marketplace is safe for business is our top priority,” OFR Commissioner Drew Breakspear says in the statement. “I thank our investigative team, the Florida Office of Attorney General Pam Bondi and the Office of Statewide Prosecution for their assistance in this case.”