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Man Pleads Guilty to Bilking Investors

FORT MYERS, Florida -- As reported by the Associated Press: "A man pleaded guilty to scamming casino boat investors and a bank out of more than $2.1 million.

"Angelo Giordano, 35, avoided trial on charges including wire and bank fraud, money laundering and transporting stolen property across state lines. He faces up to 30 years in prison and $1.75 million in fines, but he is not expected to get the maximum under federal sentencing guidelines.

"...Federal prosecutors cut no deals with Giordano, who has been accused of scams and failing to pay his debts by dozens of people from Florida to Nevada.

"...Instead of opening a casino ship or the Internet gambling site he promised, Giordano spent investors' money on a condominium and fast cars, and gambled away as much as $750,000, court records showed.

"Giordano also admitted stealing $519,500 from First Union National Bank in Fort Myers by cashing numerous checks from a bank account in the Bahamas he knew had nothing in it..."

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