Two Florida men are facing the possibility of multiple decades in prison after allegedly masterminding a fraudulent scheme to steal over $100 million from a nonprofit organization set up to manage funds for people with special needs and disabilities.

The U.S. Department of Justice says Leo Joseph Govoni, 67, of Clearwater, Florida, co-founded the Center for Special Needs Trust Administration (CSNT) around the year 2000, and CSNT employed John Leo Witeck, 60, of Tampa, Florida, as an accountant.

The nonprofit managed court awards, settlements and other payments for people with disabilities and special needs.

By 2024, CSNT managed over 2,100 special needs trusts containing approximately $200 million, with beneficiaries in almost every state, according to the indictment.

However, the DOJ alleges that Govoni, Witeck and their unnamed co-conspirators purloined CSNT client-beneficiary funds and concealed their embezzlement through complex financial transactions. They allegedly sent fraudulent account statements with false balances to their disabled clients.

Govoni allegedly used the embezzled cash to buy real estate, fund a brewery and pay personal debts. He also liked to travel by private jet, according to the DOJ.

Both men were charged with conspiracy to commit wire and mail fraud, wire fraud, mail fraud and money laundering conspiracy, and Govoni was also hit with additional charges of bank fraud, illegal monetary transactions and false bankruptcy declarations.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Florida Duo Allegedly Steal $100,000,000 in Funding Meant To Support Americans With Special Needs and Disabilities: DOJ appeared first on The Daily Hodl.

Two Florida men are facing the possibility of multiple decades in prison after allegedly masterminding a fraudulent scheme to steal over $100 million from a nonprofit organization set up to manage funds for people with special needs and disabilities.

The U.S. Department of Justice says Leo Joseph Govoni, 67, of Clearwater, Florida, co-founded the Center for Special Needs Trust Administration (CSNT) around the year 2000, and CSNT employed John Leo Witeck, 60, of Tampa, Florida, as an accountant.

The nonprofit managed court awards, settlements and other payments for people with disabilities and special needs.

By 2024, CSNT managed over 2,100 special needs trusts containing approximately $200 million, with beneficiaries in almost every state, according to the indictment.

However, the DOJ alleges that Govoni, Witeck and their unnamed co-conspirators purloined CSNT client-beneficiary funds and concealed their embezzlement through complex financial transactions. They allegedly sent fraudulent account statements with false balances to their disabled clients.

Govoni allegedly used the embezzled cash to buy real estate, fund a brewery and pay personal debts. He also liked to travel by private jet, according to the DOJ.

Both men were charged with conspiracy to commit wire and mail fraud, wire fraud, mail fraud and money laundering conspiracy, and Govoni was also hit with additional charges of bank fraud, illegal monetary transactions and false bankruptcy declarations.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Florida Duo Allegedly Steal $100,000,000 in Funding Meant To Support Americans With Special Needs and Disabilities: DOJ appeared first on The Daily Hodl.