DELAND, FL — Todd Allen Lamb, 51, a former DeLand speed boat builder, was found guilty by an Ohio jury for defrauding boat owners across six states. The verdict, announced Friday, Oct. 31, included six counts of felony theft, one count of defrauding creditors, and one count of engaging in a pattern of corrupt activity, according to Logan County prosecutor Eric Stewart.
Lamb allegedly scammed victims in Delaware, New Jersey, Georgia, Kentucky, Ohio, and Tennessee, taking money without delivering the promised boats. He faces a maximum prison sentence of 32½ years, with sentencing scheduled for Nov. 26.
The case against Lamb’s ex-wife, Karen Nicole Lamb, who faces nine charges including grand theft, remains pending.
The couple previously received a warm welcome when they relocated Spectre Powerboats to DeLand Municipal Airport in 2021, moving into a 26,000-square-foot facility. Lamb marketed high-performance boats but allegedly defrauded customers by taking deposits and failing to deliver vessels.
One high-profile case involved businessman Terrance Weber from New York, who claimed he was ripped off for $271,787 plus a trade-in boat valued at $80,000. While Weber was later arrested for allegedly attempting to recover the trade-in boat, court documents listed Todd Lamb as the victim in that local case, adding to the confusion surrounding Lamb’s dealings.
Ohio prosecutors documented numerous other victims, including individuals who lost over $300,000 collectively and a company, Caterpillar, from which the Lambs allegedly misappropriated equipment and payments.
“People never received the boats they paid for, and they never got their money back,” Stewart said.
The fraudulent activity reportedly began in 2017, continuing until 2020, spanning multiple states and leaving a trail of unpaid debts and undelivered boats.
Authorities stress the importance of conducting due diligence when making large purchases and hope the verdict serves as a warning to others engaged in similar schemes.
