Man indicted for I-75 fraud

PUNTA GORDA — Federal prosecutors alleged a Punta Gorda man defrauded investors of more than $6 million for projects along Interstate 75.

The U.S. Attorney's Office charged Anthony Michael Defeo, 48, of Punta Gorda, with eight counts of wire fraud. If convicted, Defeo could face up to 20 years in prison.

Prosecutors allege that Defeo solicited investors in a plan to improve sections of I-75. Defeo allegedly told investors he had lucrative contracts and purchase orders with a legitimate corporation engaged in asphalt paving, grading and related services.

The indictment unsealed June 6 alleges Defeo diverted more than $6 million of investor funds for his own purposes and never repaid that money.