Wednesday, October 01, 2008

Frank Amodeo & Mirabilis: Ex-Mirabilis Businessman Frank Amodeo signs Plea Deal In Tax Fraud Case

Ex-Mirabilis businessman Frank Amodeo signs plea deal in tax-fraud case
Rene Stutzman
Sentinel Staff Writer
3:51 PM EDT, September 22, 2008

Frank Amodeo, the Orlando financial wizard who built Mirabilis Ventures Inc. into a financial powerhouse, today signed a plea deal and walked into federal court, ready to admit he was guilty, but a federal magistrate would not accept his plea.So Amodeo is to return to the same courtroom tomorrow. That's when U.S. Magistrate Gregory J. Kelly indicated he would accept the plea.Amodeo, 48, is expected to plead guilty to five felony counts, including conspiracy, failure to collect and pay taxes and obstructing an agency proceeding. He could be sentenced to a maximum of 25 years in prison.The plea deal, made public today, calls for Amodeo to forfeit $172 million to $182 million and several pieces of real estate, two luxury cars, a jet and a Harley Davidson.Amodeo is charged with cheating the IRS out of $182 million in one of the biggest employment tax fraud case in IRS history.Mirabilis controlled several payroll service companies that worked with small- and medium-sized employers. Those Mirabilis subsidiaries withheld from employees the appropriate amount of tax but didn't forward the money to the IRS, according to federal officials.Amodeo is charged with 27 counts that carry a maximum penalty of 370 years in prison and fines of $6.8 million.Amodeo was in court today. He said nothing to the judge, but one of his psychiatrists testified that Amodeo is manic depressive and delusional.Dr. Jeffrey Danziger said Amodeo is competent to enter a plea but still believes he will eventually achieve world economic domination. He realizes, Danziger testified, that he's about to enter a plea that may send him to prison for several years.Amodeo hopes, Danziger said, that it will just be for five years.

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