OWNER OF BOAT DEALERSHIP LEAVES CUSTOMERS HIGH AND DRY OVER $1 MILLION IN LOSSES
Posted At: 11/23/2010 03:43 PM
- BSO Case Number: DN10-01-1567
- PIO Number: 10-11-20
- Date: Various
- Time: N/A
- Place of Occurrence: Legacy Fisherman, 10 Bryan Road, Dania Beach
- Jurisdiction: Dania Beach
- Edward Spano, 72, male, 8/8/38, 3217 NE 40 St., Fort Lauderdale
Description of Incident:
The owner of Legacy Fisherman, Inc. has left a blemish and huge debts on the boating dreams of dozens of his customers in Broward, Miami-Dade and Palm Beach counties.
As part of his business, Edward Spano, 72, sold new and used boats. Detectives say after closing numerous boat deals, Spano continued to make small payments to lien holders to prevent anyone from discovering he was selling boats with outstanding loans. He also told his customers he would handle the paperwork with the Florida Department of Motor Vehicles and issued them temporary tags in the meantime. Spano managed to get by with this scheme since 2006, until about a year ago, when lien holders began notifying victims they would be financially responsible for the unpaid, outstanding loans.
Customers of Legacy Fisherman began filing complaints with the Broward Sheriff’s Office as they discovered they could not get a title from Florida DMV for their boats because Spano failed to pay off the bank liens. In total, 45 victims incurred losses estimated at almost $1.3 million.
Spano surrendered at the BSO Main Jail facing one charge of organized fraud.
Anyone who thinks they’ve been a victim of Spano is asked to contact BSO Economic Crimes Detective John Calabro at 954-321-4255 or Crime Stoppers, anonymously, at 954-493-TIPS (8477).
***MEDIA NOTE: The suspect’s mug shot is attached to this news release on our website www.sheriff.org
- INVESTIGATORS: Det. Calabro, CID Economic Crimes; Dania Beach
- THIS REPORT BY: Keyla Concepción/PIO 11/24/2010 1545
- Supect's mug shot - Supect's mug shot
Translate This Page: