New Port Richey Man Sentenced to 30 Years in Prison for Orchestrating $1.7 Million Assisted Living Facilities Investment Scam

Miguel “Mike” Angel Perez, of New Port Richey, was sentenced to 30 years in prison for orchestrating a real estate investment scam that defrauded 27 investors out of approximately $1.7 million over an eight-year period. The sentencing follows a jury verdict which found Perez guilty of multiple counts of racketeering, larceny, and mortgage fraud in connection with the scheme.

Perez and his co-defendants, acting through their companies FRT Investments, LLC Investors Mentorship Club, LLC, Allegi, Inc., and I Dream Big Coaching, Inc., claimed to be successful real estate investors, hosting free investment seminars at various hotels in the Tampa Bay area purportedly to educate attendees on how to purchase and convert single-family residences into assisted living facilities for profit. Perez used false statements, promises, and deceptive tactics to trick victims into believing that investing with him would produce enough income to retire. 

Contradictory to his claims, the investigation revealed that certain promised assisted living facilities never came into operation, and others already in operation lost their license because of mismanagement. A large portion of victims’ money was used by Perez and his co-defendants for personal living expenses, including the purchase of the Perez family home in New Port Richey, and not for the promised real estate conversion projects.

The case was investigated by the OFR, and investigative assistance was provided by the Brooksville and Tampa offices of the Florida Department of Law Enforcement (FDLE). The case was prosecuted by the Attorney General’s Office of Statewide Prosecution. The Pasco County Sheriff’s Office (PSCO) executed a search warrant. Both FDLE and PCSO secured the arrests in the case.

Read the press release.