Sarasota man indicted for running $36M Ponzi scheme in Naples

Brent Adam Seaman, a 51-year-old Sarasota resident, has been indicted by a federal grand jury for running an alleged Ponzi scheme in Naples that took in $36.17 million, using the proceeds to pay off previous investors and buy a $165,000 Ferrari.

Seaman is charged with five counts of wire fraud, four counts of money laundering and two counts of making a false tax return.

If convicted, he faces a maximum of 20 years in federal prison for each wire fraud count and up to 10 years for each money laundering count. The maximum penalty for the false tax return is three years for each count.