MARION COUNTY, FL (352today.com) – The Marion County Sheriff’s Office is investigating a local financial advisor after a resident reported losing nearly $200,000 in an alleged investment fraud scheme. Authorities believe there may be additional victims.

According to the sheriff’s office, the victim told investigators that Michael Hainsworth, owner of Hainsworth Wealth Advisory, LLC, promised to invest her funds in bonds over a five-year period, with monthly payments to be made to her during that time. The victim said the payments were initially made but eventually stopped without explanation.

When she contacted Hainsworth to request the return of her investment, the victim was told there would be penalties for withdrawing funds early. Later, she was allegedly informed by Hainsworth that her chances of getting the money back would be “small” unless she signed a civil payment agreement.

The victim did not disclose signing such an agreement, and her funds remain unreturned, according to the report.

Sheriff’s officials said the department has received similar complaints from other individuals regarding Hainsworth and his company. Investigators believe more victims may exist and are encouraging anyone who has provided funds to Hainsworth to come forward.

Potential victims or witnesses are urged to call Detective Caruthers directly at 352-351-4776, or the Marion County Sheriff’s Office at 352-732-9111.

No criminal charges have been announced against Hainsworth and the investigation remains ongoing.