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Businessman Indicted On Charges Of Stealing Tax Money

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The Associated Press

Published: August 8, 2008

ORLANDO - A central Florida businessman whose private equity fund owned several payroll processing firms has been accused of stealing $182 million in taxes from thousands of small-business clients.

Frank L. Amodeo, who controlled Mirabillis Ventures, was indicted Wednesday on more than two dozen federal charges, including wire fraud, conspiracy and failure to pay employment taxes. The indictment was unsealed Thursday.

He faces up to 370 years in prison, almost $7 million in fines and forfeiture of more than $14 million in real estate.

His attorney, Harrison Slaughter, said last month that Amodeo, who has been diagnosed with bipolar disorder, was being treated by psychiatric doctors so he could be placed in a facility for further examination.

Messages left with Slaughter and the State Attorney's Office were not returned Thursday.

According to the 27-count indictment, investigators think Amodeo and others stole federal tax withholding, Social Security and Medicare deductions from firms they controlled.

Authorities allege a number of companies were involved in the scheme, including AEM, AQMI Strategy Corp., Common Paymaster Corp., Nexia Strategy Corp., Presidion Corp., Presidion Solutions, Quantum Delta Enterprises and Wellington Capital Group.

The money was used to buy property, vehicles and an airplane in the names of Amodeo and his associates, according to court documents.

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