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MIAMI---A commissioner on the Palm Beach County Board of County Commissioners misused his position to personally enrich himself, his family and his secret business partners in a series of land deals in Palm Beach, Martin and Brevard Counties, according to the Federal Bureau of Investigation.
Anthony R. Masilotti, 50, of Wellington has been charged in a criminal information with fraud conspiracy. The information also seeks forfeiture of millions of dollars in assets derived from the fraud conspiracy, account to R. Alexander Acosta, U.S. Attorney for the Southern District of Florida.
If convicted, Masilotti faces a maximum period of five years of incarceration and a $250,000 fine in addition to the criminal forfeitures.
The information alleges that, among other things, Masilotti advocated and voted on these matters without disclosing to the BCC and the public his secret financial interest in the transactions, which ultimately netted him millions of dollars.
Masilotti's allegedly participated in one land deal in Martin County, known as Nine Gems, in which Masilotti had a secret ownership interest. According to the information, the Nine Gems deal involved the sale of tract of land to the South Florida Water Management District, a state agency whose mission is to help protect and manage the region's water supply. In this transaction, Masilotti allegedly misused his official position to advocate and publicly endorse the SFWMD's purchase of the Nine Gems parcel without disclosing his ownership interest in the property to Martin County officials, the SFWMD, the BCC or the public. To hide his ownership interest in the Nine Gems property, Masilotti allegedly created a trust in the name of another to purchase the property. After a complicated series of transactions, Masilotti profited $1.7 million from the Nine Gems sale to the SFWMD, prosecutors said. He then used the proceeds of the sale to purchase 13 separate certificates of deposit for $100,000 each, in the names of various family members, to further conceal his interest.
According to the information, Masilotti was also secretly involved in another land deal in Brevard County. This deal involved a 1,200 acre tract of land owned by Palm Beach Aggregates. Masilotti created another trust, called the ARM Family Land Trust, to purchase 60 acres within the larger 1,200 acre tract for $100,000. Masilotti again misused his official position to advocate and publicly endorse zoning changes dramatically increasing the value of the land, without ever disclosing to Brevard County officials, the BCC or the public his personal financial stake in the deal. After a complicated series of transactions, Masilotti returned the 60 acres to PBA in exchange for beneficial control of nearly 300 acres of land located in Micco, Brevard County, Florida. This swap resulted in Masilotti obtaining control of 300 acres of land worth nearly $8 million for his initial payment of $100,000.
A third real estate deal from which Masilotti was allegedly secretly profiting involved the sale of a 50-acre parcel of land in Royal Palm Beach belonging to the Diocese of Palm Beach. Masilotti, who had an undisclosed interest in the group seeking to buy the land, attended numerous meetings in his official capacity with the Diocese, Royal Palm Beach officials, and Palm Beach County Officials, advocating the sale of the Diocese property to a specific buyer. At these meetings, Masilotti concealed his true financial interest in the transaction. The Information alleges that on February 6, 2004, Masilotti received between $40,000 to $50,000 from the sale of the Diocese property in exchange for his assistance to a developer in resolving traffic issues involving the property. The money was wired to a bank account for the Atlantis Hotel and Casino in Nassau, Bahamas.
Finally, the information alleges that Masilotti, his family and friends received substantial free air travel, valued at more than $100,000, from a developer that did business with the County. During the time he was receiving these gifts, Masilotti allegedly voted to approve the sale of county-owned real property, known as the "Posse Property," to a group headed by this developer and did not disclose to the BCC and the public that he had received substantial gifts from this developer. 11-02-06
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© 2006 North
Country Gazette
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