Anthony Defeo Pleads Guilty to Fraud Relating to Road Construction Scam
Anthony Michael Defeo pled guilty to wire fraud relating to a scheme where he solicited investments relating to road construction projects.
The Peiffer Rosca securities practice attorneys Alan Rosca and Joe Peiffer are investigating the matter.
Defeo solicited victim investors who thought they were investing in an opportunity involving a gravel pit and fill dirt to be used by road construction companies for improvements on Interstate 75 in Florida, according to court documents. Defeo used companies that he controlled as vehicles to obtain money from investors, according to court documents. Defeo misrepresented to his victims that he had lucrative contracts and purchase orders with a legitimate corporation engaged in asphalt paving, grading, and related services for roadway and civil construction projects, according to court documents.
Defeo did not use investors’ money for its intended purpose and instead he fraudulently diverted and converted over $6 million from investors for his own purposes, according to court documents.
The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.