Two Florida males are dealing with the potential for a number of a long time in jail after allegedly masterminding a fraudulent scheme to steal over $100 million from a nonprofit group set as much as handle funds for folks with particular wants and disabilities.
The U.S. Division of Justice says Leo Joseph Govoni, 67, of Clearwater, Florida, co-founded the Middle for Particular Wants Belief Administration (CSNT) across the yr 2000, and CSNT employed John Leo Witeck, 60, of Tampa, Florida, as an accountant.
The nonprofit managed court docket awards, settlements and different funds for folks with disabilities and particular wants.
By 2024, CSNT managed over 2,100 particular wants trusts containing roughly $200 million, with beneficiaries in nearly each state, in keeping with the indictment.
Nevertheless, the DOJ alleges that Govoni, Witeck and their unnamed co-conspirators purloined CSNT client-beneficiary funds and hid their embezzlement by means of advanced monetary transactions. They allegedly despatched fraudulent account statements with false balances to their disabled purchasers.
Govoni allegedly used the embezzled money to purchase actual property, fund a brewery and pay private money owed. He additionally favored to journey by non-public jet, in keeping with the DOJ.
Each males have been charged with conspiracy to commit wire and mail fraud, wire fraud, mail fraud and cash laundering conspiracy, and Govoni was additionally hit with further fees of financial institution fraud, unlawful financial transactions and false chapter declarations.
Observe us on X, Facebook and Telegram
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Verify Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Every day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any losses you could incur are your accountability. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in internet affiliate marketing.
Generated Picture: Midjourney
