JACKSONVILLE, Fla. – St. Johns County homebuilder Spencer Calvert pleaded guilty Tuesday to 45 felony charges tied to an alleged construction fraud scheme that left multiple Nocatee homeowners with unfinished homes and millions of dollars in losses.
Under a negotiated plea agreement announced by the Seventh Judicial Circuit State Attorney’s Office, Calvert agreed to pay $8,722,659.05 in restitution, including an upfront payment of $1 million at sentencing that will be distributed among victims based on the percentage of their losses.
Calvert, the former owner of Pineapple Corporation, pleaded guilty to:
- Organized scheme to defraud more than $50,000
- Fifteen counts of grand theft of more than $100,000
- One count of grand theft
- One count of misappropriation of construction funds of $100,000 or more
- Twenty-six counts of misappropriation of construction funds between $1,000 and $100,000
- One count of misappropriation of construction funds of less than $1,000
Circuit Judge Christopher Ferebee is scheduled to sentence Calvert on July 14…