A Florida man has been sentenced to 15 years in prison for stealing more than $500,000 from an elderly man and a veteran. Mark Puno, 42, was found guilty of organized fraud after a trial in July 2023.
According to the Florida State Attorney’s Office, Puno engaged in a scheme to defraud by misrepresenting his ownership in a subdivision development and presenting fraudulent financial statements. From December 2018 to November 2020, he received $470,000 from an elderly man by falsely claiming ownership of the development. He later sold a fake lot to the man for $40,000, stealing a total of $510,000.
Puno also took an additional $30,000 from a veteran, telling him the money would be used for permits and appraisals on the subdivision. However, investigators discovered that Puno did not own the subdivision and was not a partner with the real owners.
Instead of using the money as promised, Puno used it to fund his luxurious lifestyle, which included trips to Italy and Disney World, dining at expensive restaurants, architectural work on his home, and car loans, among other expenses. In August 2019, he even presented fake financial statements claiming he held millions of dollars in real estate and bank accounts, in an attempt to secure a loan for a different condominium project.
The judge sentenced Puno to 15 years in state prison, followed by 15 years of probation upon his release. Additionally, he must pay $510,000 in restitution.
This case highlights the importance of being cautious when dealing with financial matters and conducting thorough due diligence. Scams and fraud schemes can have devastating effects on vulnerable individuals, particularly the elderly and veterans who may have limited resources. The justice system is committed to holding individuals accountable for their actions and ensuring justice is served.
It is crucial to be aware of red flags such as promises that sound too good to be true and individuals seeking money for investments without proper documentation. If you suspect fraud or have fallen victim to a scam, it is essential to report it to local law enforcement and seek legal assistance.
We hope that this case serves as a reminder to exercise caution and protect oneself from becoming a victim of financial fraud. Authorities continue to work diligently to uncover and prosecute those involved in fraudulent activities, ensuring the safety and security of the community.
