The former owner of a Daytona motorcycle shop is facing federal conspiracy to commit mail and wire fraud charges in connection with a Florida real estate scam.
Steve Vento, 41, former owner of a Daytona Beach-based motorcycle company called Godfather Racing, is charged along with four others. Prosecutors say he inflated his income to $67,000 a month to take out big mortgages to acquire pricey homes.
In 2007, Vento began a four-year prison sentence following Broward County convictions involving stolen property and racketeering, according to t the Palm Beach Post.
He allegedly got into the mortgage scam in 2006, buying $1 million-plus homes in Lighthouse and Boca Raton.
Vento's attorney, A. Charles Peruto of Philadelphia, told the newspaper Vento will plead guilty to the federal charge, which carries up to a 30-year sentence.
Posted by Holly Wagner