In what turned out to be a significant construction fraud case, Mark Montalto, 61, the owner of Port St. Lucie Properties Inc., was arrested after a meticulous two-year investigation into his dealings. Montalto faces a torrent of charges for defrauding 21 victims who entrusted him with the construction of their homes. According to CBS12, the victims paid substantial amounts, ranging from thousands to over $100,000, yet many were left with incomplete structures while Montalto allegedly neglected to pay subcontractors, leading to liens on their properties.
One victim, speaking to CBS12, described Montalto's transformation when questioned about progress, saying, "The more we were asking him questions the more this man become a monster. He become angry. He close the door on us." The owner's arrest was conducted by the U.S. Marshals Task Force at his workplace located at 11500 SW Kanner Hwy in Martin County on Wednesday.
Montalto's charges are extensive, as outlined by WPBF. They include 21 counts of Misapplication of Construction Funds and grand theft across all three degrees. Specific charges also targeted the exploitation of older adults, substantially enhancing the seriousness of the alleged crimes. The complexity of the case may be glimpsed in the inclusion of racketeering and aggravated white-collar crime charges.
After his arrest, Montalto is now being held at the St. Lucie County Jail, with a bond set at a steep $2.7 million. The scope of the impact on victims is reflected in the sheer volume of charges brought forth against Montalto, numbering 46 in total. As detailed by reports, in some cases, requisite permits for construction were never filed, which further complicated the homeowners' predicaments. The arrest is a major step for the victims, who have spent two years seeking justice and closure after long delays and financial difficulties.
