Businessman accused of stealing $1M faces new charges

Feb. 09--A local businessman and former Greater Lafourche Port Commission official arrested last week after being accused of stealing $1 million from his clients is facing new charges, authorities said.

Kristian "Kris" Gaudet, 45, of Cut Off, was charged on Jan. 31 with two counts of felony theft, the Lafourche Parish Sheriff's Office said.

After several more victims came forward, Gaudet was additionally charged today with multiple counts of money laundering, racketeering, exploitation of the infirm and five more counts of theft, authorities said.

The suspect, who owns Kris Gaudet Insurance and Financial Services, became the focus of an investigation late last year when a couple from Cut Off became suspicious about their investments with him, the Sheriff's Office said.

The couple found discrepancies in their records for a $350,000 investment made to Winston Financial, a company Gaudet registered in Louisiana in 2012, authorities said. Investigators learned Gaudet provided false addresses and other information.

After obtaining a search warrant for Gaudet's financial records, they found the couple's check had been deposited into the Winston Financial account in August 2017, authorities said. Gaudet then transferred a majority of that money into another account and used it "for purposes for which it was not intended," the Sheriff's Office said.

In May, another couple had also invested money with Gaudet, who transferred a large amount of that money into another account and used it to buy a home in Larose, the Sheriff's Office said.

Investigators said that since 2012 Gaudet has frequently used money he received from investors for personal gain including using money clients paid for insurance to buy real estate.

Gaudet has been barred from associating with financial institutions after being issued an official cease-and-desist notice, and his Louisiana license has been suspended, authorities said.

As the investigation continued, detectives uncovered five more thefts and found evidence of money laundering when Gaudet tried to hide the source of the money he used for personal gain, the Sheriff's Office said.

Three of Gaudet's victims were at least 60 years old, and due to the overall pattern of his crimes, investigators developed evidence of racketeering, authorities said.

Gaudet is now charged with seven counts of theft, money laundering, three counts of exploitation of the infirm and one count of racketeering. His bond was increased from $1 million to $4.75 million.

Gaudet served as vice president of the port commission until he was defeated Nov. 6 by fellow Republican Jimmy "T-Jim" LaFont. Gaudet served one six-year term on the Port Commission.

He's scheduled to be arraigned at 9 a.m. March 1.

The Sheriff's Office is asking anyone who has made an investment with Gaudet and his company since 2012 to come forward. Those who obtained insurance policies through Gaudet and his company are also asked to contact their primary insurers to ensure their accounts are in good standing.

If you find any discrepancies in your records, call the Sheriff's Office at 532-4320.

The investigation into Gaudet was conducted by the Lafourche Parish Sheriff's Office, FBI, Louisiana State Attorney General Jeff Landry and the Louisiana Department of Insurance Fraud Division.

--Staff Writer Dan Copp can be reached at 448-7639 or at [email protected]. Follow him on Twitter@DanVCopp.

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