Accountant arrested for $1.2M scam

NORTH PORT — Mark J. Klingel has been arrested by the Sarasota County Sheriff's Office for his role in an advance fee for loan scam.

Klingel was arrested for communications fraud related to his involvement in the scheme, says a statement from the Florida Office of Financial Regulation. Co-defendant Stephen Eugene Hummell was arrested in March.

From Klingel's North Port-based accounting firm, Mark J. Klingel CPA LLC, the two defendants are accused of assessing and collecting more than $1.2 million in illegal advance fees from more than 50 prospective borrowers, the statement says. The victims were promised business loans, but no loans or refunds ever materialized, according to the statement.