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Justice News

Department of Justice
U.S. Attorney’s Office
Middle District of Florida

FOR IMMEDIATE RELEASE
Thursday, January 5, 2017

Orlando Man Charged With Investment Fraud

Orlando, Florida – United States Attorney A. Lee Bentley, III announces the unsealing of an indictment charging Leone Alfano La Cava (59, Orlando) with 17 counts of wire fraud. If convicted, he faces a maximum penalty of 20 years in federal prison on each count.

According to the indictment, La Cava orchestrated an international real estate investment scheme that defrauded at least 40 investors out of more than $4 million. He solicited individuals in Italy to purchase real estate in Orange County that he claimed would generate guaranteed rental income. He used falsified deeds and loan documents to convince investors that they were purchasing property owned by La Cava or one of his entities, Orlando Trust Investment Properties, Inc., or Golden Investment, Inc. In fact, those properties did not exist, were never owned by La Cava or one of his entities, or had already been sold to another investor. La Cava used portions of the funds sent by investors for his own personal use.

An indictment is merely a formal charge that a defendant has violated one or more federal criminal laws, and every defendant is presumed innocent unless, and until, proven guilty.

This case was investigated by the Federal Bureau of Investigation. It will be prosecuted by Assistant United States Attorneys Roger Handberg and Nathan W. Hill.

Topic: 
Financial Fraud
StopFraud
Updated January 6, 2017