Attorney General Ashley Moody’s Office of Statewide Prosecution secured a 30-year prison sentence for a man operating an elaborate real estate investment scheme. Miquel Angel Perez defrauded more than 20 victims out of retirement and life savings through a scheme involving real estate pitches and false promises of wealth made from investments. A Pasco County jury found Perez guilty of 22 felonies, including racketeering, grand theft, exploitation and mortgage fraud. The judge sentenced Perez to 30 years in prison. 

Attorney General Ashley Moody said, “This real estate schemer claimed to be a successful investor but instead stole people’s hard-earned money, leaving many in deep debt and with poor credit. He tricked more than 20 victims, including senior citizens, to gain millions in investment funds all to fund his own lavish lifestyle. Now, thanks to our law enforcement partners and Statewide Prosecutors, his next real estate venture will be relocating to a jail cell.” 

According to the investigation, Perez held free investment seminars and showed attendees how to purchase and convert single-family residences into assisted living facilities for a profit, in exchange for the attendees’ investments. Perez claimed to garner great success in real estate investments, and accumulated millions in net worth—promising to help attendees attain a similar lifestyle.