ORLANDO, FL – Keith Ingersoll, 46, of Orlando, is headed to federal prison for more than nine years after being convicted of a sprawling network of fraud schemes that bilked victims out of millions. U.S. District Judge Gregory A. Presnell handed down the 9-year, 1-month sentence on February 28th, ordering Ingersoll to forfeit $9,814,993.36 and pay a staggering $12.748 million in restitution.
The most significant scam involved a victim swindled out of $12.7 million between 2016 and 2021. Ingersoll, along with accomplices, falsely claimed the money was for refundable deposits on real estate, promising it would be held in escrow by an attorney and returned on demand. Instead, funds were diverted for lavish personal expenses – luxury car rentals, travel, and adult entertainment – before the bulk was funneled to Ingersoll himself. The scheme relied on forged documents and fictitious entities, creating the illusion of legitimate real estate transactions where none existed. Potential buyers were either nonexistent, never contacted, or had explicitly rejected the deals.
When the victim demanded their money back, Ingersoll spun a web of lies, claiming the escrow agent was trapped in Costa Rica due to COVID-19 restrictions, delaying the return of funds. This wasn’t an isolated incident. In 2017, Ingersoll exploited his position as a consultant for a local Middle District of Florida government entity to orchestrate a $262,000 real estate scam. He used a straw purchaser to buy a property, then immediately flipped it to the government agency for a $262,000 markup, splitting the illicit profit with his co-conspirators.
Ingersoll’s greed didn’t stop there. In March 2020, as the nation reeled from the pandemic, he attempted to defraud the U.S. Small Business Administration, submitting a fraudulent application for a $66,500 Economic Injury Disaster Loan (EIDL) for his company, “The Ingersoll Group.” He inflated revenue and cost figures in a desperate attempt to secure emergency COVID-19 funding, but the application was ultimately denied.
Ingersoll pleaded guilty on October 18, 2022, to charges of wire fraud, conspiracy to commit wire fraud, attempted wire fraud, and aggravated identity theft. The investigation was a joint effort by the U.S. Secret Service, the Federal Bureau of Investigation, and the Seminole County Sheriff’s Office. The case was prosecuted by U.S. Attorney Roger B. Handberg and Assistant U.S. Attorneys Amanda Daniels, Chauncey A. Bratt, and Jennifer M. Harrington.
The sentence sends a clear message: elaborate financial schemes targeting vulnerable individuals will not be tolerated. Ingersoll’s decade-plus prison term reflects the scale and brazenness of his criminal enterprise, and the $12.748 million in restitution ordered aims to provide some measure of relief to his victims – though recovering the full amount remains uncertain. The investigation highlights the continued threat posed by fraudsters who exploit trust and desperation for personal gain.
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Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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