Investigations

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Conspirators Sentenced for Conducting Surety Bond Fraud Scheme

On December 2, 2021, Alexander Xavier, Timothy Castracane, and Henry Hattendorf were sentenced in U.S. District Court for the Southern District of Florida to 72 months, 46 months, and 24 months of incarceration, respectively. On November 16, a fourth defendant, Robert Michael Wann, was sentenced to 54 months of incarceration. The four defendants were also each sentenced to 3 years of supervised release, over $2.6 million in joint and several restitution, and a $100 special assessment.
 
In December 2020, the defendants were indicted for using various businesses to obtain payments from construction companies in exchange for fraudulent surety bonds secured by valueless gold certificates. The scheme included the March 2015 sale of a fraudulent surety bond, purportedly worth nearly $23 million, to contractors working on the Port Authority of New York and New Jersey’s Goethals Bridge replacement project funded by the Federal Highway Administration. The victims paid over $919,000 for the fraudulent surety bond.