Business

Indiana man admits bilking Liquid Ninja drink investors

Posted February 23, 2017 6:00 am

The Associated Press

EVANSVILLE, Ind. (AP) - An Indiana man has pleaded guilty to fraud charges in what prosecutors said was a scheme to steal $600,000 from investors in his energy drink company.

Thirty-three-year-old Eric Morgan of Evansville admitted to a Vanderburgh County judge Wednesday that he told investors they were buying a share of the Liquid Ninja company, but that he used the money for personal expenses. The Evansville Courier & Press reports (http://bit.ly/2l0FyOc ) Morgan was CEO of the company that is no longer in business.

Defense attorney Shaunda Lynch said Morgan intended to ultimately make good on the investments. Morgan is to be sentenced on May 15 and faces anywhere probation to eight years in prison.

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Information from: Evansville Courier & Press, http://www.courierpress.com

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