FBI arrests Leo Govoni after probe into missing $100 million

Leo Govoni, a businessman from Clearwater, was arrested by the FBI at his home early Monday morning. He’s accused of taking $100 million from medical trust funds meant to help disabled and injured people. These funds were managed by a nonprofit he founded called the Center for Special Needs Trust Administration.

Court records show that over 10 years, Govoni moved the money into his own company, Boston Finance Group, and never paid it back. That left more than 1,500 people without the money they relied on for medical and daily living expenses. Some of that money, about $16 million, was also sent to his craft beer company, Big Storm Brewing, which he ran with his son.

After taking the money, Govoni spent heavily. He flew friends on a $3.4 million private jet and attended events like the Kentucky Derby in style. He also gave large political donations. The courts have already taken away more than 120 of his businesses, fined him $300,000 for not turning over financial records, and declared him in contempt. Federal charges are expected to be announced soon.

For more information see Christopher O’Donnell “FBI arrests Leo Govoni after probe into missing $100 million,” Tampa Bay Times, June 23, 2025. 

Special thanks to Deborah Matthews (Virginia Estate Planning Attorney) for bringing this article to my attention.