TALLAHASSEE – Attorney General Charlie Crist today announced the
arrest of a Seminole County man for his involvement in a scheme that
defrauded investors out of approximately $7 million. Scott Spor of
Altamonte Springs was arrested on racketeering and organized fraud charges
filed in Seminole County. The case will be prosecuted by Crist?s Office of
Statewide Prosecution.
Investigators with the Florida Office of Financial Regulation
investigated the fraud involving the sale of unregistered securities by
Sanford-based Universal Luxury Coaches. Spor, 48, directed the operation
with the help of an accomplice, whose identity is being withheld until his
arrest. They targeted elderly investors, convincing them to invest their
money in luxury touring coaches for lucrative returns. Instead of investing
the money, Spor and his accomplice used part of the money to fund the
marketing teams of an associated company and diverted the rest of the money
to pay off earlier investors.
?These citizens believed they were getting a great deal and instead
were scammed out of millions,? said Crist. ?This operation must be
stopped.?
The two men sold unregistered securities to 46 investors in Florida
and more than 100 investors out of state. As the president of Universal
Luxury Coaches, Spor supervised the sale of investment contracts in a
rental program for the luxury coaches.
Spor is being held at the Seminole County jail. A warrant has been
issued for his accomplice. Both are charged with racketeering, securities
or investment fraud and organized fraud, as well as 57 counts of the sale
of an unregistered security. If convicted of all charges, each defendant
faces a possible sentence of up to 375 years in prison.
