Sarasota man behind $80M Ponzi scheme gets decades in prison

57-year-old convicted of conspiracy to commit wire fraud and mail fraud and money laundering sentenced to federal prison for “insidious scheme.”

Six vehicles that were seized by federal authorities (U.S. Department of Justice)
Six vehicles that were seized by federal authorities (U.S. Department of Justice)
  • Manatee-Sarasota
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Michael J. DaCorta, a 57-year-old Sarasota man convicted of running an $80 million Ponzi scheme, has been sentenced to 23 years in federal prison and was ordered to pay $52 million in restitution to victims.

 

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