TAMPA, FL – A Tampa businessman stands accused of siphoning $100 million from a nonprofit he founded, which managed trust funds for disabled clients. The accusations have landed Leo Govoni in hot water, with a federal judge finding him in contempt for ignoring court orders related to his case.
Govoni, who established the Center for Special Needs Trust in St. Petersburg, is under scrutiny for allegedly diverting funds over a decade for personal and business use. The nonprofit filed for bankruptcy over a year ago after the funds were discovered missing, leaving over 1,500 families affected and unable to access vital resources for medical expenses.
In a recent court session, Govoni faced a federal bankruptcy judge who warned him of possible jail time if he continues to disregard court directives. The court is pressing Govoni to hand over financial records pertaining to approximately 150 companies and properties he owns, as they seek to recover funds to compensate the victims.
Despite being approached for comments as he arrived at court, Govoni and his attorney remained silent. The allegations against him have sparked outrage among the affected families, who are struggling with the financial void left by the missing funds.
Megan Murray, an attorney representing the impacted families, expressed the profound distress experienced by her clients. “It’s a complete disregard for their welfare,” she said, emphasizing the urgent need for resolution.
Govoni was previously found liable for the missing $100 million, with an additional $20 million in interest. However, the court’s efforts to trace these funds have been hampered by Govoni’s non-compliance. Earlier this year, a judge revoked his ownership of Big Storm Brewing in St. Pete, one of the entities tied to his financial dealings.
The court has ordered Govoni to cease disposing of his properties without permission, following allegations that he sold one for $1.6 million without notifying the court. A $5,000 daily fine has been imposed until he provides the required documentation, with a deadline set for May 12.
Failure to comply could lead to criminal charges, as the court seeks clarity on Govoni’s remaining assets. The judge aims to sell these assets to partially or fully reimburse the affected families.
Govoni’s legal troubles have drawn the attention of both state and federal investigators. As the case unfolds, the families affected by his actions hope for justice and restitution.