Lloyd Boggio, former CEO of the Florida-based Carlisle Development Group, plead guilty on Monday to his role in an affordable housing scheme that ran from 2006 to 2012 and obtained $36 million in affordable housing grant funds. Matthew Greer, another former Carlisle CEO, has also plead guilty to his role, along with five other South Floridian building executives.
Greer, Boggio, and others submitted fraudulently inflated contracts for low-income housing developments in order to gain extra tax credits and grants.
The US has collected more than $20 million over the course of this case. Boggio’s sentencing is scheduled for Dec. 9th, and as a part of his plea agreement he has forfeited assets in excess of $10 million, including a multimillion-dollar home in Miami.