Editors Choice

Ponzi Scheme Owner Gets 40 Years Jail. Lawyer Involved in $300M Ponzi Scheme Attempting to Stop 90 Day Florida Bar Suspension.

LIT: There’s something not right about this whole saga in Florida and when it involves real estate of this magnitude, you know somethings up!

LIT COMMENTARY

A Fort Myers lawyer facing an ethics complaint over his links to a former client’s $300 million Ponzi scheme asked the Florida Supreme Court not to suspend his law license – for 90 days or as decided by the court – when his attorney Patrick McGinley and bar counsel Chris Altenbernd faced off in oral arguments.

The Florida Bar accused attorney Charles Paul-Thomas Phoenix of violating rules governing truthfulness and terminating representation. Its complaint alleges he knew his client, Florida vacation rental company Cay Clubs Resorts and Marinas, was defrauding investors.

Jan 14, 2021 –  President Donald Trump has commuted the 40-year sentence of Fred Davis “Dave” Clark Jr., who was convicted in 2015 of helping run a $300 million Ponzi scheme through the Florida Keys-based company Cay Clubs Resort and Marinas.

David Schwarz, officer in Cay Clubs Resorts, convicted in $300 million vacation rental scam

Originally Published: March 6, 2017 | Republished by LIT: Oct. 13, 2020

MIAMI — A former executive of a failed Florida Keys resort has been convicted in a $300 million vacation rental scam.

A U.S. Attorney’s Office statement says a jury found 60-year-old David Schwarz guilty Friday of conspiracy to commit bank fraud, bank fraud and interference with the administration of the IRS. Sentencing is May 1 – (He would be sentenced to 40 years jail).

Schwarz was once chief financial officer and one-third owner of the Cay Clubs Resorts and Marinas, which operated resorts in the Florida Keys, Clearwater, Orlando and Las Vegas. Prosecutors say 1,400 investors who purchased units in Cay Clubs developments were defrauded.

The resort’s former president, . Fred Davis “Dave” Clark Jr., was sentenced last year to 40 years in federal prison.

Two former sales executives pleaded guilty to conspiracy charges and were sentenced to five years in prison.

But read on…the 11th Circuit ain’t happy with Schwarz sentence…

Federal Judge Asserts Texas Foreclosure Defense Lawyer’s Repetitive Filings Are Beyond A Joke

Texas lawyer Juan Angel Guerra is no stranger to the law, both sides of it. However, his days as a foreclosure defense lawyer appear bleak.

Florida Federal Judge Mary Scriven Lets SEC’s $170M Real Estate Ponzi Scheme Lawsuit Continue

Brian Davison of EquiAlt, a Florida real estate company can’t escape claims that he scammed 1,100 investors out of more than $170 million.

Florida Lawyer Charles Phoenix Receives a Two Year Suspended Sentence for His Fraudulent and Unethical Behavior. He Should Have Been Disbarred.

Phoenix was aware that [Cay Clubs’s] practices constituted a fraud on the lending institutions involved and these practices could be fairly described as mortgage fraud.

Continue Reading

This article has moved to LawsInFlorida.com

CLICK HERE TO CONTINUE READING ON LAWS IN FLORIDA

Ponzi Scheme Owner Gets 40 Years Jail. Lawyer Involved in $300M Ponzi Scheme Attempting to Stop 90 Day Florida Bar Suspension.
1 Comment

1 Comment

  1. Pingback: Corrupt Criminals, Donald Trump and The Eleventh Circuit Gather in Florida...Here's What's Up - LawsInFlorida.com

Leave a Reply

Your email address will not be published. Required fields are marked *

Laws In Texas is a blog about the Financial Crisis and how the banks and government are colluding against the citizens and homeowners of the State of Texas and relying on a system of #FakeDocs and post-crisis legal precedents, specially created by the Court of Appeals for the Fifth Circuit to foreclose on homeowners around this great State. We are not lawyers. We do not offer legal advice. We are citizens of the State of Texas who have spent a decade in the court system in Texas and have been party to during this period to the good, the bad and the very ugly.

Donate to LawsInTexas. Make a Difference.

Subscribe to Our Newsletter

We keep your data private and share your data only with third parties that make this service possible. See our Privacy Policy for more information.

© 2020-21 LawInTexas com is an online trading name which is wholly owned by Blogger Inc., a nonprofit 501(c)(3) registered in Delaware. | All Rights Reserved.

To Top