World

Jury convicts Florida man in $80 million Ponzi scheme

Tampa, Fla. – A Florida man has been found guilty of running an $80 million Ponzi scheme.

Court records show that a federal jury in Tampa on Wednesday found 57-year-old Michael DaCorta guilty of conspiracy to commit wire and mail fraud and other charges.

He faces up to 33 years in prison.

DaCorta ran an investment company called Oasis International Group Ltd from November 2011 to April 2019.

According to testimonies and evidence presented at the trial, DaCorta and others convinced at least 700 victims to invest in the company, causing the victims to lose over $80 million.

Authorities say DaCorta used the victims’ money to buy expensive vehicles, million-dollar homes, and lavish trips, among other things.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, transcribed or redistributed without permission.

https://www.local10.com/news/florida/2022/05/06/jury-convicts-florida-man-in-80m-ponzi-investment-scheme/ Jury convicts Florida man in $80 million Ponzi scheme

Joel McCord

InternetCloning is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@internetcloning.com. The content will be deleted within 24 hours.

Related Articles

Back to top button