Punta Gorda’s Own Anthony Michael Defeo Sentenced for Alleged Investor Fraud

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Anthony Michael Defeo, 49, and of sunny Punta Gorda, has been sentenced to nine years and two months in federal prison by U.S. District Judge John E. Steele for alleged wire fraud, according to the Middle District of Florida bureau of the U.S. Attorney’s  Office.

The Court also reportedly also ordered Defeo to forfeit $5,736,680.00, the alleged proceeds of the wire fraud, and to pay restitution to his investors in the same amount.

Defeo Allegedly Solicited Investors Taken by Opportunity to Invest in Interstate 75 Gravel Pit

Defeo allegedly solicited victim investors who thought they were investing in an opportunity involving a gravel pit and fill dirt to be used by highway construction companies for improvements on Interstate 75 in the west coast of Florida, according to U.S. Court documents.

Defeo also allegedly used companies that he controlled to obtain the victims’ money, U.S. Court documents allege. In addition, Defeo allegedly misrepresented to investors 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.

Rather than using the money as represented, the U.S. Courts allege, Defeo fraudulently diverted approximately $6,280,580.00 in monies from investors for his own purposes. He reportedly failed to repay the investors.

Investment Fraud Attorneys Investigating

The Peiffer Wolf investment fraud attorneys 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 fraud attorneys at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.

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In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.