The Florida Office of Financial Regulation today announced that Thomas Michael White has been found guilty of mail fraud and conspiracy to commit mail and wire fraud, following a nine-day federal trial.
Interim Commissioner Pamela Epting said, “I thank OFR’s investigators and our state and federal partners for their hard work in this case. This result is a testament to the valuable expertise of our team and their strong partnerships, which continue to fulfill the agency’s mission of protecting Floridians from financial criminals.”
White, along with co-defendants John K. Reech and Joseph M. Genzone, promised investors that their money would be used to develop First Call Ventures, LLC, which they claimed was a thriving marketing business engaged in sales leads generation for products and services related to the transportation industry. However, the majority of investors’ money was used for salaries of First Call principals and spent by the defendants on their personal lifestyles.
White is scheduled to be sentenced in February 2019. Reech was previously sentenced to more than four years in prison, and Genzone, who pleaded guilty, is also awaiting sentencing.
This case was jointly investigated by the Florida Office of Financial Regulation and the Federal Bureau of Investigation. The case was prosecuted by the U.S Attorney’s Office for the Southern District of Florida.