PINELLAS COUNTY, FL — FBI agents arrested Clearwater businessman Leo Govoni early Thursday, accusing him of misappropriating at least $100 million from a nonprofit medical trust fund.
Govoni was taken into custody at his home in Feather Sound, according to reports by the Tampa Bay Times and statements from the U.S. Attorney’s Office, which confirmed his arrest earlier Monday. A news conference was scheduled for later that day.
The investigation centers on the Center for Special Needs Trust Administration, a St. Petersburg nonprofit founded by Govoni in 2000. The organization managed trust funds set up to provide health care funding for approximately 1,500 injured and disabled individuals.
The nonprofit declared bankruptcy in 2024 after it was discovered that around $100 million had been diverted from the trust funds in the form of loans.
A forensic accountant’s report revealed that the misappropriated funds were wired to the Boston Finance Group, a company operated by Govoni, before being distributed to multiple businesses he owns—including Big Storm Brewing, the craft brewery Govoni ran with his son.
Following the scandal, Govoni was stripped of ownership in several of his companies, including Big Storm Brewery.
The case continues to develop as authorities prepare to pursue legal action against Govoni for the alleged fraud.
