$10M fraudster admits role

TAMPA — A Pinellas County man was sentenced to 17½ years in prison for his role in what authorities called a “fraud scheme designed to steal money from two private equity lenders and an 84-year-old man.”

Robert Edwards, 28, from Clearwater, pleaded guilty to conspiracy to commit wire fraud, according to a release from the U.S. Attorney's office in Tampa. U.S. District Judge James Moody further sentenced Edwards to pay nearly $10 million — $5.18 million in restitution and $4.75 million in a money judgment. The latter payment is for the proceeds of the conspiracy.

The fraud was uncovered after Edwards and a co-conspirator, Marc Allen, fraudulently obtained a multimillion-dollar loan. The loan, according to the U.S. Attorney's office, was purportedly secured by a first priority mortgage, along with other financial guarantees, in Harbourtowne at Countrywoods, a Dunedin condo development.