A Cut Off business owner is now facing new charges in an ongoing investigation into his actions when running his business.
Kristian 'Kris' Gaudet, a well-known businessman in the South Lafourche community and former local politician, now faces 10 counts of felony theft and money laundering, as well as charges of racketeering and exploitation of the Infirmed. The investigation into Gaudet is now continuing in coordination with the FBI, Louisiana Attorney General Jeff Landry's Office and the Fraud Division of the Louisiana Department of Insurance.
As previously released, the investigation into Gaudet began in late 2018 when a couple became suspicious of investments made with Gaudet, who owned his own insurance and financial services company.
Detectives found in that investigation that Gaudet provided false information on an investment company which he also owned.
Detectives found that Gaudet deposited the couple's $350,000 investment into the company account and then transferred most of it into another of his accounts.
Gaudet was initially arrested in Jan. 2019.
After his arrest, five additional victims came forward and detectives found evidence of money laundering and racketeering, which led to more charges being filed in February.
Since that time, three more victims have come forward to LPSO, which has led to additional warrants and now charges involving 10 separate victims.
Gaudet is now charged with 10 counts of felony theft, 10 counts of money laundering and one count of racketeering. Due to the age of some of the victims, he is also charged with four counts of exploitation of the infirmed.
Gaudet's bond at one time was $4.85 million, but it has since been reduced to $680,000, on the condition that if bond is posted, he will wear an ankle monitor.
Authorities are continuing to ask people who made investments with Gaudet since 2012 to come forward if the investment has not been fully returned.
Anyone with insurance policies obtained through Gaudet and his company are also asked to contact their primary insurer listed on documents to ensure that the account is in good standing.
Anyone with any discrepancies is asked to contact the Lafourche Parish Sheriff’s Office Criminal Investigations Division at (985) 532-4320.