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Florida financial advisor arrested for alleged investment theft [Video]

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Investigators discovered a luxury condo in Mexico Beach, Florida, worth more than $230,000, in addition to thousands spent on hunting equipment, boats and more.

INVERNESS, Fla. — A Citrus County man is facing charges for allegedly stealing millions of dollars from clients who thought he was investing the money for them.

Instead, detectives say 60-year-old Joseph Michael Todd, a well-known investment advisor in the region for decades, was lavishly spending that money on himself.

“It is heartbreaking for all the people in the community,” said local real estate broker Beck Norman.

About 10 years ago, Norman sat down with Todd to discuss financial planning. But she says she walked away with a bad feeling.

“I just saw the dollar signs in his eyes, to whatever we were doing. And my instincts told me not to move forward with him,” Norman said.

Detectives said it was Todd’s office in Thonotosassa where …

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