Spencer Travis Calvert, 54, was sentenced to five years in prison in St. Johns County Circuit Court Wednesday. He entered guilty pleas to all 45 felony counts last month.
The 45 counts included Organized Scheme to Defraud more than $50,000, 15 counts of Grand Theft more than $100,000, Grand Theft, Misappropriation of Construction Funds $100,000 or more, 26 counts of Misappropriation of Construction Funds $1,000 to $100,000, and Misappropriation of Construction Funds less than $1,000.
The negotiated plea agreement includes an order requiring Calvert to pay $8,722,659.05 in restitution. At the time of the sentencing, the defendant paid $1,000,000, which was distributed among the victims based on their percentage loss of the total loss.
The term of incarceration will be followed by 30 years of probation, with the possibility of early termination if restitution is paid in full. Other terms include an agreement that if any proceeds from remaining lots owned by Calvert or Pineapple Corporation are recovered, the proceeds are to go to restitution in this matter. Calvert also agreed to execute default judgments in the civil cases to enable the victims to claim portions of the Florida Homeowners’ Construction Recovery Fund.
Between 2019 and 2023, several projects in the Vista at Twenty Mile neighborhood in Nocatee were abandoned by custom homebuilder Pineapple Corporation. The homes were in various incomplete stages; some had roofs, others just had a foundation. Calvert, the owner of Pineapple Corporation, misappropriated a total of $8,722,659.05 in deposited funds from the 15 victims who cooperated with the investigation.
Investigators uncovered that Calvert would take upfront deposits from the victims to pay several subcontractors he hired to do work on their homes. He never paid them, which forced multiple subcontractors to take out liens against the victims’ property for labor, services, and materials. As a result of the defendant’s actions, the victims lost hundreds of thousands of dollars and were burdened with paying off liens and hiring new contractors to finish construction on their homes.
“The defendant will spend the next five years behind bars,” State Attorney R.J. Larizza said after the sentencing. “Construction fraud is a pressing problem, especially in growing communities like St Johns County. The State Attorney’s Office will continue to investigate and prosecute those who engage in said fraudulent activities”. (Note on quote accuracy: The missing period after “St” in St. Johns County appears exactly as written in the original press release).
The case was investigated by the St. Johns County Sheriff’s Office and Seventh Circuit State Attorney’s Office investigators in a joint operation with assistance from the Jacksonville Sheriff’s Office. Assistant State Attorneys Jennifer Lieb and Monica Smith successfully prosecuted the case for the State of Florida. The Honorable Christopher Ferebee heard the case and imposed the sentence.
JimboXYZ says
Where there’s one there’s more constrution industry fraud & abuse. 2019 & 2023, would be interesting to know the details of those counts for when each & all of the fraud & abuse happened. Nocatee, FL for this seems to be both Trump-Pence & Biden-Harris era towards the unaffordable housing issues.
This fraud/Ponzi Schemer goes to prison for 5 years. He’s paid $ 1M towards the $ 8.7M. He doesn’t have $ 7.7M, if ever, won’t be able to pay much of any of this back during a 30 year probation ? Who is going to hire him for the criminal that he is to have that level of income to ever hold an executive/managerial compensation to ever pay it back in full ? Is he barred/banned from ever tarting a legitimate LLC ever again ? He’ll be mowing the swale/median of Belle Terre for the rest of his pathetic life, that level of $ 15/hour employee. Would have to win the PowerBall or Mega Millions to be a instant fix for something he’s never going to “EARN” over the remaining decades of probation & his miserable life. He’s right there with the similar POS Hunter Biden as far as anyone is concerned ? Are we reading about this one like Epstein or anyone else that ever suicided their way out of accountability & responsibliity ? Nobody is hiring that level of a criminal, that Board of Directors doesn’t want to baby sit him around that level of financial accounting assets & reserves that a legitimate corporation would have for Income Statements & Balance Sheets. Being that this is St Johns county, what’s been going on in neighboring counties for other builders, contractors & anything else construction industry ?
A micro version of Bush-Cheney era property flipping that repeats itself under mostly Biden-Harris. This probably is one reason to vote for the Property Tax legislation. I’ve maintained & held that consumers as the masses have been fleeced at least since Covid. Maybe it’s time to give homeowner’s at least a break from the Bidenomics/Trumpnomics of it all. Lord knows, show of hands, the entire population is being gouged for inflation at every turn. I’ll ask the question, this was Nocatee, how close was the land development speculation in bankrupt Marineland for Flagler County on a similar trajectory to become this level of a crime ? 5 years is nothing for prison sentencing for a dollar amount that nowhere approaches $ 8.7M. Anyone gets 5 years for grand theft auto ?
https://www.criminaldefenselawyer.com/resources/auto-theft-laws-florida.htm#penalties-for-grand-theft-auto-and-joyriding-in-florida