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Pinellas businessman accused of embezzling millions from special needs clients to stay behind bars until trial

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Published  June 26, 2025 8:53pm EDT
Pinellas County
FOX 13 News
Businessman accused of embezzlement stays in jail

Businessman accused of embezzlement stays in jail

Leo Govoni, a Pinellas County businessman accused of stealing $100M from the trust funds of people with special needs, will remain behind bars until his trial. FOX 13’s Aaron Mesmer reports.

The Brief

    • A federal judge ordered Pinellas County businessman Leo Govoni to remain in jail until trial in a $100 million fraud and money laundering case. 
    • The judge cited the extreme nature of the crime and evidence in making her decision
    • Govoni is accused of embezzling millions from special needs trust funds through the Center for Special Needs Trust Administration, a nonprofit he founded.
    • Emotional victims said the ruling offered the first real sense of justice since the Center filed for bankruptcy and left more than 1,500 clients with empty or depleted accounts.

CLEARWATER, Fla. - The parents of Leo Govoni’s alleged victims gave one another emotional hugs outside the federal courthouse in Tampa Thursday, following a judge’s decision to hold Govoni in jail without bond until his trial.

Govoni, a Pinellas County businessman, is accused of masterminding a $100 million fraud and money laundering scheme. The decision followed courtroom testimony from victims, who said releasing Govoni would add insult to years of financial devastation and emotional pain.

RELATED: Leo Govoni case: Emotions high for victims after Pinellas businessman arrested in $100M scheme

"This is the first true sense of relief that any of us have," said Theresa Schlosser, whose daughter Sarah requires 24-hour care. "Because we know it’s going to take years to get a dime back."

Schlosser and another mother, Amparo Perales, stood before the judge and asked that Govoni be denied bail. Both women had placed their children’s trust funds in the hands of Govoni’s nonprofit, the Center for Special Needs Trust Administration. In return, they say, he drained their accounts — $200,000 from Sarah’s trust, and $2 million from Amparo’s son, Javier.

"He didn’t invest anything," Perales said outside court. "Everything he’s doing is with the victims’ money."

RELATED: Lawsuit filed against Pinellas County businessman Leo Govoni, Big Storm Brewing's 'Fat Point Brewing' brand

Federal prosecutors say Govoni siphoned tens of millions from the Center over more than a decade, using a network of shell companies and real businesses, including Big Storm Brewing in Clearwater, to funnel the money. The funds were allegedly spent on a private jet, luxury vacations, real estate, and other ventures, some involving Govoni’s family.

The backstory:

Govoni was indicted earlier this week on 15 counts, including wire fraud, bank fraud, and money laundering. Authorities allege he continued the fraud as recently as May 2025, even after court orders warned him not to sell off assets. That was a key factor in the judge’s decision to deny bail.

RELATED: Over 100 businesses seized from Pinellas businessman accused of taking $100M from special needs trusts

Govoni’s attorney, Paul Sisco, said the ruling was "exceedingly rare," adding they’ll decide whether to appeal. Govoni’s wife, meanwhile, didn’t respond to questions following the hearing.

Meanwhile, the investigation continues, and experts believe the case could take years to go to trial, given the scale of financial records and entities involved. The government has already seized more than 100 of Govoni’s businesses and properties and may seek forfeiture of many more if he’s convicted.

What they're saying:

To the families affected, the ruling is a turning point.

"We trusted all our finances so that we would not have to worry later on in life," Perales said. "Now we’re left with nothing. But at least now, for the first time, it feels like someone is being held accountable."

The Source: This story was written with information gathered by FOX 13's Aaron Mesmer. 

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