Sarasota Man Who Guaranteed Oasis For Investors Sentenced To 23 Years
Sarasota Man Who Guaranteed Oasis For Investors Sentenced To 23 Years. It was all (try not to be shocked) a Ponzi Scheme. Michael DaCorta was the CEO of Oasis International and had plenty of willing clients. Apparently, “You can’t lose baby,” gets them every time. District judge ordered the former CEO to pay $2.82 Million after the jury found him guilty of a Ponzi Scheme with about 700 victims that totaled near $80 Million bucks. He worked the Ponzi Scheme for a while between 2011 and 2019 and was charged with wire fraud, money laundering, and they always get you on the false income tax return too. When they bring in the Internal Revenue Service Criminal Investigation Unit you know there’s trouble. The Special Agent in Charge said in a statement. “Mr. DaCorta guaranteed his more than 700 clients an ‘oasis’ of an investment when in reality all they got was a dust bowl of empty promises.” Buyer beware. Investor beware. Every time, people! Source TBBJ