49-year old Michael Defeo of Punta Gorda’s been sentenced to 9-plus years in federal prison on his guilty plea to wire fraud. NBC2 reports Defeo’s also been ordered to forfeit over $5.7-million, prosecutors say the proceeds from his illegal activity, as well as pay the same amount in restitution to his victims. Prosecutors say Defeo got people to invest in what they though was a gravel pit and dirt fill business that would make money from selling to road construction firms working on I-75. Defeo created a paper trail showing he owned construction businesses with contracts for the I-75 work. He didn’t. He took over $6.2-million for himself.
