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2mo ago

Florida Nonprofit Founder and Accountant Indicted in $100M Special Needs Trust Fraud

Federal prosecutors allege Leo Govoni diverted client assets over 15 years into a slush fund for personal luxuries with the help of John Witeck

Leo Govoni, right, the Clearwater, Fla. businessperson accused of taking $100 million from medical trust funds, leaves federal court with his attorney Paul Sisco after an April bankruptcy hearing. Govoni was indicted Monday. (Dirk Shadd/Tampa Bay Times/TNS)
Leo Govoni, the Clearwater businessman accused of taking $100 million from medical trust funds, was arrested early Monday morning, according to the U.S. Attorneys Office.
The founder of a Florida nonprofit is accused of stealing more than $100 million from the organization in a yearslong fraud scheme, according to federal prosecutors.
Gavel.

Overview

  • An indictment unsealed June 23 charges Govoni, 67, and Witeck, 60, with misappropriating more than $100 million from the Center for Special Needs Trust Administration between 2009 and 2025.
  • Prosecutors brought counts of wire fraud, mail fraud, conspiracy to commit wire and mail fraud and money laundering against both defendants and added bank fraud, illegal monetary transaction and false bankruptcy declaration counts against Govoni.
  • Investigators say the accused concealed their scheme by sending false account statements showing inflated trust balances to clients and families.
  • The FBI, IRS-CI, HHS-OIG and SSA-OIG worked together to trace stolen funds that financed real estate purchases, private jet trips, brewery operations and personal debt payments.
  • CSNT declared bankruptcy in February 2024 after uncovering that over $100 million was missing from more than 2,100 trusts managing about $200 million in assets.