Sarasota man guilty of running $80M Ponzi scheme from Longboat Key firm

57-year-old Michael J. DaCorta convicted by jury of conspiracy to commit wire fraud and mail fraud and money laundering

  • By Louis Llovio
  • | 5:50 p.m. May 5, 2022
  • | 0 Free Articles Remaining!
  • Manatee-Sarasota
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A federal jury has found the former head of a Longboat Key financial firm guilty of running an $80 million Ponzi scheme and using the proceeds to fund a luxurious lifestyle.

Michael J. DaCorta, 57, was convicted May 4 after a 13-day trial. He faces more than 30 years in prison.

 

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