Former Joel Greenberg associate to plead guilty to defrauding investor of nearly $13 million – Orlando Sentinel

Keith Ingersoll, a former associate of disgraced Seminole County tax collector Joel Greenberg, has agreed to plead guilty in federal court to participating in a real estate scheme that defrauded an investor of millions of dollars, court documents show. .

According to his signed plea agreement with federal prosecutors, Ingersoll earned more than $9.6 million by defrauding the local investor. He faces more than 20 years in federal prison.

Ingersoll agreed Wednesday to plead guilty to two charges of conspiracy to commit wire fraud, one charge of wire fraud, one charge of attempted wire fraud and one charge of aggravated identity theft. A hearing is scheduled for Tuesday before U.S. Magistrate Judge Embry Kidd at the federal courthouse in downtown Orlando.

Ingersoll and his business partner James Adamcyzk were indicted together in November 2021 on 40 counts each of various frauds and engaging in fraudulent monetary transactions related to the scheme.

Adamcyzk, however, did not agree to plead guilty. His attorney, Brian Phillips, told a judge that Adamcyzk had advanced throat cancer that had spread to his lungs. And he’s mostly bedridden.

According to Ingersoll’s plea agreement, the pair worked together and with other co-conspirators to convince an unnamed wealthy investor – known as LW in court documents – that they needed 12, $7 million to put down deposits for land purchases across the country — including Florida, Alabama, Illinois, Nebraska and the Bahamas.

Starting in April 2016, Ingersoll and Adamcyzk made up stories for the investor that they would use his money to buy the properties – including a hospital in Nebraska – and then planned to turn them over to another buyer for a profit and give the investor a return of more than 9% with a share of the profits, according to the plea agreement.

Prosecutors said the couple made up fake names of people who wanted to sell their properties and produced fake real estate documents with fake signatures to make the scheme believable.

“As part of the fraud conspiracy and scheme, Ingersoll, Adamcyzk and other conspirators provided LW with fraudulent contracts signed by fictitious sellers, which were for properties that did not exist and contained a forged signature,” prosecutors said in argument. OK.

Between October 2017 and February 2019, the investor sent $4.85 million to Ingersoll and an attorney whose license was suspended to hold the money in an escrow account.

But instead, Ingersoll and Adamcyzk and the unnamed attorney spent the victim’s deposits buying luxury items for themselves, such as expensive cars, adult entertainment and travel, according to the court records. ‘charge.

Then, between June 2019 and April 2021, the investor sent $7.85 million to Adamcyzk which Ingersoll promised to keep in an escrow account, prosecutors say.

“None of these funds have been held in escrow,” prosecutors said in the plea agreement. “On the contrary, they were spent by Ingersoll, Adamcyzk and other conspirators.”

After the lawyer with the suspended license died in 2019, Adamcyzk falsely told the investor he was a lawyer, according to the court document.

In May 2021, the investor began repeatedly demanding that $7.5 million in deposits he had given to the men be returned, prosecutors say.

Ingersoll told the investor that Adamcyzk, who had access to the money, was in Costa Rica and could not return to the United States and return the money because he had Covid, prosecutors said.

However, federal investigators found that Adamcyzk was using his credit card at restaurants and a hotel in Tampa and Orlando at the time, according to court documents.

In June, the investor emailed Ingersoll stating, “WE HAVE BEEN FRAUDED HERE – WE NEED TO DISCUSS WHAT/WHEN/HOW???” according to the court document.

Ingersoll must give up the money, according to the plea agreement. Prosecutors can also seize his other financial assets if he is unable to pay the money, according to the plea agreement.

Ingersoll was a longtime friend of Greenberg before he was elected Seminole County Tax Collector in November 2016. After taking office in January 2017, Greenberg hired Ingersoll as the public office’s real estate advisor.

But within months, Ingersoll and Adamcyzk were involved in an ownership flip scheme with the civil service.

In this transaction, Adamcyzk formed a new company called Shooters Inc. and then used it to purchase a former bank building on State Road 434 in Winter Springs for $680,000. A few hours later, he sold it to the tax collector’s office for $942,000 in public funds. Ingersoll helped oversee the deal between Greenberg and Adamcyzk’s company.

Prosecutors said in a court document that the price paid by the public office for the bank building “was falsely and fraudulently inflated to financially benefit public official, Keith Ingersoll and other conspirators.”

Ingersoll agreed to plead guilty to wire fraud for that transaction, according to the agreement.

A county auditor wrote in a 2020 report to Seminole Commissioners, “the acquisition of this property has collusion written all over it.”

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Ingersoll’s plea agreement does not name Greenberg or the Seminole County Tax Collector’s Office, but it does refer to Ingersoll working on behalf of a local government agency to purchase the bank’s property which is now a branch of the Tax Collector’s Office.

After the sale in June 2017, Ingersoll chartered a private jet and visited a casino in Florida three times with the public official, according to the plea agreement.

“During the trips, Ingersoll paid the official more than $1,000 in casino chips as a bribe for the real estate transaction,” prosecutors said in the plea agreement. “After local media wrote about the real estate transaction, Ingersoll provided additional money to the public official as another bribe to the real estate transaction.”

Two employees of the government agency then questioned the transaction by asking for the purchase records, according to the court document. However, the records were never delivered, prosecutors said.

Greenberg resigned in June 2020 and pleaded guilty in May 2021 to committing six felonies while a tax collector, including child sex trafficking, identity theft, harassment, wire fraud and conspiracy to bribe a public official.

He is currently being held in the Orange County Jail awaiting sentencing on December 1.

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