Federal prosecutors say a Florida man held five real estate broker's licenses and received thousands of dollars in disability benefits without disclosing that he made money renovating and flipping homes.
The U.S. Railroad Retirement Board began paying a former railroad employee a retirement pension after he claimed he had been unable to work since 1995 due to a disability, according to court documents.
The Sarasota resident became eligible for a “total and permanent disability pension” in December 1995 and continued to work “in various capacities” after that, according to prosecutors.
He is accused of stealing $271,124 in disability benefits over several years that he was not entitled to, according to the U.S. Attorney's Office for the Middle District of Florida.
The U.S. Attorney's Office announced in a news release April 29 that the real estate broker, now 68, pleaded guilty in Tampa federal court to theft of government funds.
The man's attorney, Mark P. Rankin, did not immediately respond to a request for comment from McClatchy News on April 29.
Prosecutors said the man received notices each year to report any work he had but failed to do so.
While receiving disability benefits, the man served as a registered agent or officer for at least 22 companies, worked as a regional manager for several condominium associations and operated a real estate business, according to the plea agreement.
Prosecutors say he held five real estate broker's licenses at the same time, all of which were active as of April 29, according to records from the Florida Department of Business and Professional Regulation.
“He purchased properties for commercial purposes and renovated them but did not report them,” the prosecutor said.
The man's LinkedIn account states he has worked as a broker for White Sands Real Estate Group since 2009.
According to the plea agreement, he made $344,000 from White Sands Real Estate Group between 2012 and 2019 and $300,000 from other businesses during the same period.
When the U.S. Railroad Retirement Board asked him directly whether he was working, he “gave false, incomplete and misleading responses,” prosecutors said.
The man faces up to 10 years in prison, according to federal prosecutors. A sentencing hearing has not been scheduled.
On April 29, the government filed a motion for a confiscation order seeking recovery of the full amount of the stolen disability pension.
According to the motion, the man agreed that the government has a “right” to seize his property because he no longer has the $271,124 that was improperly taken from the Railroad Retirement System.
McClatchy News reached out to the Railroad Retirement Board for comment on April 29 but did not immediately receive a response.
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