Orlando Woman Agrees To Plead Guilty To Operating Multi-Million Dollar Fraud Scheme
Orlando, FL - United States Attorney Robert E. O'Neill announces that Tina Mangiardi (50, Orlando) has agreed to plead guilty to one count of conducting a prohibited monetary transaction. Mangiardi was charged by information on March 7, 2013, and faces a maximum penalty of 10 years in federal prison. The information also notifies her that the United States is seeking a money judgment in the amount of $100,000.00, the proceeds of the prohibited monetary transaction.
Mangiardi’s initial appearance and arraignment are scheduled for March 20, 2013, at 10:00 a.m. before United States Magistrate Judge David A. Baker.
According to the information and plea agreement, between 2009 and 2012, Mangiardi, under the corporate name of TLM Design and Construction, Inc. (TLM), engaged in a scheme wherein she fraudulently obtained more than $2.5 million from investors. During the scheme, Mangiardi convinced victims to invest large sums of money in a construction“bid bond” investment. In return, and as inducements to invest, Mangiardi promised the return of the investors’ initial investment, as well as bonus money and additional monetary payments at rates as high as 100%. However, Mangiardi was not awarded bid bond contracts with the investment funds because the construction projects that she allegedly bid on, never existed. Instead, Mangiardi diverted the money for her own use.
An information is merely a formal charge that a defendant has committed a violation of the federal criminal laws, and every defendant is presumed innocent unless, and until, proven guilty.
This case was investigated by the United States Secret Service with the assistance of the Orlando Police Department Economic Crimes Unit. It will be prosecuted by Assistant United States Attorney David Haas.