Leone Alfano Lacava Allegedly Ran $40 Million Orlando-based Ponzi Scheme that Targeted Italian Investors
Leone Alfano Lacava, Victoriya Johnson, and Rasul Atakov, and unnamed others allegedly worked under business names such as Orlando Trust Properties and Golden Investments Inc. in order to run a $40 Million Orlando-based Ponzi Scheme that involved at least 100 people, mostly Italian citizens, according to federal documents in Florida.
In addition, Federal agents seized property in Orlando, Windermere and Aventura on Monday, January 26. Federal documents also added that authorities have yet to estimate the total breadth of the alleged fraud.
Leone Alfano Lacava Traveled to Italy to Allegedly Allure Investors into Bogus Florida Real Estate Properties
Leone Alfano Lacava allegedly traveled to Italy in order to use nepotistic connections in Italy to sell fake investments in Orlando real estate, showing them brochures and photos of Orlando homes he allegedly owned or would acquire to transfer to them, according to an FBI affidavit.
Leone Alfano Lacava allegedly told Italian investors that they could readily obtain the properties, and that the cash would roll in from leasing out the homes, the affidavit notes. After the investors bought in, he would send them a month or two of purported rental payments and then cut off the payments, the FBI affidavit notes. The FBI also reports that most of the properties were never owned by Leone Alfano Lacava.
Leone Alfano Lacava and others allegedly used victim’s money to fund family businesses and purchase real estate, vehicles and a boat that were unrelated to the intended purpose of the fund, the FBI also reports. Finally, court reports from Florida note that Alfano allegedly may have run similar investment schemes in Venezuela in the past.
Investment Rights Lawyers Investigating
The Peiffer Rosca Wolf investment rights lawyers often represent investors who lose money as a result of investment misconduct. 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 misconduct may contact the investment rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.