Tampa, Florida –United States Attorney Roger B. Handberg announces that following a 13-day trial, a federal jury has found Michael J. DaCorta (57, Sarasota) guilty of conspiracy to commit wire fraud and mail fraud, money laundering, and filing a false income tax return. DaCorta faces a combined maximum penalty of 33 years in federal prison. A sentencing date has not yet been set. DaCorta had been charged in a superseding indictment in February 2021.
According to testimony and evidence presented at trial, from November 2011 through April 18, 2019, DaCorta ran an investment company named Oasis International Group, Ltd. (“OASIS”). DaCorta and his co-conspirators persuaded at least 700 victims to invest in OASIS through promissory notes and other means, causing victims’ losses exceeding $80 million. DaCorta, who had effectively been banned from conducting foreign exchange trading (“FOREX”) by agreement with the National Futures Association, induced victims to invest in OASIS by falsely representing to victim-investors that OASIS was reaping enormous profits by being a “market maker” and collecting “spread” on voluminous FOREX trades. DaCorta also pitched the opportunity as essentially risk free and OASIS as well-collateralized. In reality, OASIS was not making markets and had no true revenue. The “spread” earnings were being paid on each trade by OASIS back to OASIS to create the illusion of revenue, which was published to investors on fictious account statements and an online investor portal. The online investor portal showed the “spread” credits but concealed catastrophic underlying trading losses.
DaCorta and his conspirators used the balance of the victim-investors’ funds to make Ponzi-style payments to perpetuate the scheme and to fund lavish lifestyles. For example, DaCorta used victim-investors’ funds to purchase a Maserati and Range Rovers for his family members, a country club membership, multiple million-dollar homes in Florida, college tuition for family members, flights on private jets, and lavish trips to Europe and the Cayman Islands. DaCorta also underreported his income on his 2017 federal income tax return, claiming a negative income and receiving a tax refund.
This case was investigated by the Internal Revenue Service-Criminal Investigation and the Federal Bureau of Investigation, with assistance from the Commodity Futures Trading Commission, the National Futures Association, the Financial Industry Regulatory Authority’s Criminal Prosecution Assistance Group, and the Florida Office of Financial Regulation. It is being prosecuted by Assistant U.S. Attorneys Rachelle DesVaux Bedke, Frank Murray, and David W.A. Chee.
Earlier today, May 4, 2022, a jury empaneled by the United States District Court for the Middle District of Florida found Michael DaCorta guilty of all charges against him in connection with his operation of Oasis International Group, Ltd. and related entities as a massive fraud. On December 17, 2019, a federal grand jury indicted DaCorta on one count of conspiracy to commit wire fraud and mail fraud and one count of engaging in an illegal monetary transaction. On February 18, 2021, the grand jury returned a superseding indictment, which added a third count for making a false and fraudulent statement on an income tax return.
DaCorta’s criminal trial began on April 18, 2022. After more than two weeks of testimony and argument, the jury began its deliberations this morning but required less than four hours to find DaCorta guilty on all counts. While DaCorta was not immediately taken into custody, he faces a lengthy imprisonment. His sentencing will occur through a separate proceeding, and the Receiver will make interested parties aware of that proceeding through future communications. Please monitor this site – www.oasisreceivership.com.
Certain individuals associated with DaCorta have repeatedly attempted to frustrate the Receiver’s activities by insisting that DaCorta was innocent of any wrongdoing and ghostwriting briefs on his behalf, despite a guilty plea to similar charges years earlier by Oasis co-owner and DaCorta co-conspirator Joseph Anile, III. The individuals made these assertions both informally in communications with other investors and formally in communications with the court presiding over the CFTC enforcement action underlying the Receivership. The jury’s speedy and unanimous verdict on all counts should put an end to any doubt about DaCorta’s culpability.
John Paniagua, Kevin Johnson, and Jason McKee testified on DaCorta’s behalf. In an abundance of fairness, the Receiver will not attempt to characterize their testimony, but he hopes to make transcripts available to all interested parties. Please monitor the Receivership website. Nevertheless, the Receiver believes claimants and others should be aware of these individuals’ activities. For example, the Receiver is in possession of documents indicating that Jason McKee is associated with “The Oasis Helper Group.” From the Receiver’s perspective, that group has not fulfilled the promise of its name.
In light of the jury’s verdict, the Receiver is moving quickly to begin distributions to claimants with approved claims and to combat further misinformation from DaCorta and others who have attempted to impede the administration of the Receivership.
https://www.oasisreceivership.com/wp-content/uploads/2019/04/cropped-Oasis-Receivership-Announcements-2.jpg512512Oasis Receivership - WGKhttps://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership.pngOasis Receivership - WGK2022-05-04 17:29:152022-05-04 17:29:15Michael DaCorta Found Guilty On All Counts For Perpetrating Oasis Fraud
ORDER granting the receiver’s Motion for Approval of the Private Sale of Real Property – Specifically 4064 Founders Club Drive, Sarasota, Florida 34240
Unopposed MOTION for Miscellaneous Relief, specifically to Approve the Private Sale of Real Property – Specifically 4064 Founders Club Drive, Sarasota, Florida 34240.
https://www.oasisreceivership.com/wp-content/uploads/2019/08/4064-Founders-Club-Drive-Sarasota.jpg600800Oasis Receivership - WGKhttps://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership.pngOasis Receivership - WGK2021-04-20 14:08:412021-04-20 15:48:39ORDER Granting Receiver’s Motion for Approval of the Private Sale of Real Property
Jared J. Perez, Lawrence J. Dougherty, and Eric R. Feld, counsel of record for Receiver Burton W. Wiand, provide this notice of a change of firm name and e-mail address. The new firm name and counsels’ e-mail addresses are as follows:
The mailing address, telephone and fax information shall remain the same. Please direct all notices, orders, pleadings, and other documents to Receiver’s counsel accordingly.
https://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership-Announcements.jpg533533Oasis Receivership - WGKhttps://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership.pngOasis Receivership - WGK2021-01-15 17:04:532021-01-18 09:06:25NOTICE OF CHANGE OF FIRM NAME AND E-MAIL ADDRESSES
ORDER Granting [330] Motion for Miscellaneous Relief, specifically to Approve the Private Sale of Real Property – Specifically, 13318 Lost Key Place, Lakewood Ranch, Florida 34202.
https://www.oasisreceivership.com/wp-content/uploads/2019/09/13318-Lost-Key-Place.jpg600800Oasis Receivership - WGKhttps://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership.pngOasis Receivership - WGK2020-12-01 17:31:022021-04-20 14:08:12ORDER Granting Motion for Miscellaneous Relief, Private Sale of Real Property
https://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership-Announcements.jpg533533Oasis Receivership - WGKhttps://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership.pngOasis Receivership - WGK2020-11-24 16:10:282020-11-24 16:01:41Judgment Entered In Joseph Anile Criminal Case
https://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership-Announcements.jpg533533Oasis Receivership - WGKhttps://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership.pngOasis Receivership - WGK2020-11-24 16:00:182020-11-24 16:02:56Court Grants Motion For One-Time Sentence Reduction As To Joseph Anile
Verified MOTION for Miscellaneous Relief, specifically to Approve the Private Sale of Real Property – Specifically 13318 Lost Key Place, Lakewood Ranch, Florida 34202.
https://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership-Announcements.jpg533533Oasis Receivership - WGKhttps://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership.pngOasis Receivership - WGK2020-11-16 14:20:482020-11-19 05:22:42Receiver’s Second Motion Approve the Private Sale of Real Property
https://www.oasisreceivership.com/wp-content/uploads/2019/09/13318-Lost-Key-Place.jpg600800Oasis Receivership - WGKhttps://www.oasisreceivership.com/wp-content/uploads/2019/04/Oasis-Receivership.pngOasis Receivership - WGK2020-09-30 08:56:382020-10-06 08:34:56Court Vacates Order Approving Sale – 13318 Lost Key Place
Receiver’s Twelfth Interim Report
Announcements, Receiver ReportsReceiver’s Twelfth Interim Report
Jury Finds Sarasota Man Guilty Of Running $80 Million “Oasis” Forex Ponzi Scheme
AnnouncementsTampa, Florida –United States Attorney Roger B. Handberg announces that following a 13-day trial, a federal jury has found Michael J. DaCorta (57, Sarasota) guilty of conspiracy to commit wire fraud and mail fraud, money laundering, and filing a false income tax return. DaCorta faces a combined maximum penalty of 33 years in federal prison. A sentencing date has not yet been set. DaCorta had been charged in a superseding indictment in February 2021.
According to testimony and evidence presented at trial, from November 2011 through April 18, 2019, DaCorta ran an investment company named Oasis International Group, Ltd. (“OASIS”). DaCorta and his co-conspirators persuaded at least 700 victims to invest in OASIS through promissory notes and other means, causing victims’ losses exceeding $80 million. DaCorta, who had effectively been banned from conducting foreign exchange trading (“FOREX”) by agreement with the National Futures Association, induced victims to invest in OASIS by falsely representing to victim-investors that OASIS was reaping enormous profits by being a “market maker” and collecting “spread” on voluminous FOREX trades. DaCorta also pitched the opportunity as essentially risk free and OASIS as well-collateralized. In reality, OASIS was not making markets and had no true revenue. The “spread” earnings were being paid on each trade by OASIS back to OASIS to create the illusion of revenue, which was published to investors on fictious account statements and an online investor portal. The online investor portal showed the “spread” credits but concealed catastrophic underlying trading losses.
DaCorta and his conspirators used the balance of the victim-investors’ funds to make Ponzi-style payments to perpetuate the scheme and to fund lavish lifestyles. For example, DaCorta used victim-investors’ funds to purchase a Maserati and Range Rovers for his family members, a country club membership, multiple million-dollar homes in Florida, college tuition for family members, flights on private jets, and lavish trips to Europe and the Cayman Islands. DaCorta also underreported his income on his 2017 federal income tax return, claiming a negative income and receiving a tax refund.
This case was investigated by the Internal Revenue Service-Criminal Investigation and the Federal Bureau of Investigation, with assistance from the Commodity Futures Trading Commission, the National Futures Association, the Financial Industry Regulatory Authority’s Criminal Prosecution Assistance Group, and the Florida Office of Financial Regulation. It is being prosecuted by Assistant U.S. Attorneys Rachelle DesVaux Bedke, Frank Murray, and David W.A. Chee.
Link to Press Release
Michael DaCorta Found Guilty On All Counts For Perpetrating Oasis Fraud
AnnouncementsEarlier today, May 4, 2022, a jury empaneled by the United States District Court for the Middle District of Florida found Michael DaCorta guilty of all charges against him in connection with his operation of Oasis International Group, Ltd. and related entities as a massive fraud. On December 17, 2019, a federal grand jury indicted DaCorta on one count of conspiracy to commit wire fraud and mail fraud and one count of engaging in an illegal monetary transaction. On February 18, 2021, the grand jury returned a superseding indictment, which added a third count for making a false and fraudulent statement on an income tax return.
DaCorta’s criminal trial began on April 18, 2022. After more than two weeks of testimony and argument, the jury began its deliberations this morning but required less than four hours to find DaCorta guilty on all counts. While DaCorta was not immediately taken into custody, he faces a lengthy imprisonment. His sentencing will occur through a separate proceeding, and the Receiver will make interested parties aware of that proceeding through future communications. Please monitor this site – www.oasisreceivership.com.
Certain individuals associated with DaCorta have repeatedly attempted to frustrate the Receiver’s activities by insisting that DaCorta was innocent of any wrongdoing and ghostwriting briefs on his behalf, despite a guilty plea to similar charges years earlier by Oasis co-owner and DaCorta co-conspirator Joseph Anile, III. The individuals made these assertions both informally in communications with other investors and formally in communications with the court presiding over the CFTC enforcement action underlying the Receivership. The jury’s speedy and unanimous verdict on all counts should put an end to any doubt about DaCorta’s culpability.
John Paniagua, Kevin Johnson, and Jason McKee testified on DaCorta’s behalf. In an abundance of fairness, the Receiver will not attempt to characterize their testimony, but he hopes to make transcripts available to all interested parties. Please monitor the Receivership website. Nevertheless, the Receiver believes claimants and others should be aware of these individuals’ activities. For example, the Receiver is in possession of documents indicating that Jason McKee is associated with “The Oasis Helper Group.” From the Receiver’s perspective, that group has not fulfilled the promise of its name.
In light of the jury’s verdict, the Receiver is moving quickly to begin distributions to claimants with approved claims and to combat further misinformation from DaCorta and others who have attempted to impede the administration of the Receivership.
Dacorta Criminal Trial Update
AnnouncementsCounsel for United States of America has requested the Court to set the trial in this cause to commence on April 18, 2022. See attached.
Receiver’s Eleventh Interim Report
Announcements, Receiver ReportsReceiver’s Eleventh Interim Report
Receiver’s Tenth Interim Report
Announcements, Receiver ReportsReceiver’s Tenth Interim Report
Receiver’s Ninth Interim Report
Announcements, Receiver ReportsReceiver’s Ninth Interim Report
Receiver’s Eighth Interim Report
Announcements, Receiver ReportsReceiver’s Eighth Interim Report
ORDER Granting Receiver’s Motion for Approval of the Private Sale of Real Property
AnnouncementsORDER granting the receiver’s Motion for Approval of the Private Sale of Real Property – Specifically 4064 Founders Club Drive, Sarasota, Florida 34240
View Document
Unopposed MOTION for Miscellaneous Relief, specifically to Approve the Private Sale of Real Property – Specifically 4064 Founders Club Drive, Sarasota, Florida 34240.
View Document
Receiver’s Seventh Interim Report
Announcements, Receiver ReportsReceiver’s Seventh Interim Report
NOTICE OF CHANGE OF FIRM NAME AND E-MAIL ADDRESSES
AnnouncementsJared J. Perez, Lawrence J. Dougherty, and Eric R. Feld, counsel of record for Receiver Burton W. Wiand, provide this notice of a change of firm name and e-mail address. The new firm name and counsels’ e-mail addresses are as follows:
GUERRA KING P.A.
jperez@guerraking.com
ldougherty@guerraking.com
efeld@guerraking.com
The mailing address, telephone and fax information shall remain the same. Please direct all notices, orders, pleadings, and other documents to Receiver’s counsel accordingly.
View Document
ORDER Granting Motion for Miscellaneous Relief, Private Sale of Real Property
AnnouncementsORDER Granting [330] Motion for Miscellaneous Relief, specifically to Approve the Private Sale of Real Property – Specifically, 13318 Lost Key Place, Lakewood Ranch, Florida 34202.
View Document
Judgment Entered In Joseph Anile Criminal Case
AnnouncementsA judgment has been entered in the Joseph Anile criminal case.
View Document
Court Grants Motion For One-Time Sentence Reduction As To Joseph Anile
AnnouncementsThe court grants a motion for a one-time sentence reduction as to Joseph Anile.
View Motion
Court’s Minutes from Joseph S. Anile Criminal Sentencing
AnnouncementsMinute Entry for proceedings held before Judge Mary S. Scriven SENTENCING held on 11.18.2020 for Joseph S. Anile, II.
View Document
Receiver’s Second Motion Approve the Private Sale of Real Property
AnnouncementsVerified MOTION for Miscellaneous Relief, specifically to Approve the Private Sale of Real Property – Specifically 13318 Lost Key Place, Lakewood Ranch, Florida 34202.
View Document
Receiver’s Sixth Interim Report
Announcements, Receiver ReportsReceiver’s Sixth Interim Report
Court Vacates Order Approving Sale – 13318 Lost Key Place
AnnouncementsEndorsed Order Granting Motion to Vacate (Lost Key) – 13318 Lost Key Place
View Document [321]
MOTION to Vacate [308] Order on Motion for Miscellaneous Relief – 13318 Lost Key Place
View Document [320]
Motion to Approve Sale of Real Property – 13318 Lost Key Place
View Document [297]
Receiver’s Notice of Publication Regarding the Sale of 13318 Lost Key Place
View Document [301]
Receiver’s Second Notice of Publication Regarding the Sale of 13318 Lost Key Place
View Document [306]
Order Granting Receiver’s Motion to Approve Sale of Real Property – 13318 Lost Key Place
View Document [308]
Letter to Investors
AnnouncementsView Letter to Investors
Receiver’s Notice of Filing Bar Complaint re Brent Winters
AnnouncementsReceiver’s Notice of Filing Bar Complaint re Brent Winters
View PDF
Court Approves Sale of Real Property – 16904 Vardon Terrace #106
AnnouncementsMotion to Approve Sale of Real Property – 16904 Vardon Terrance #106
View Document [291]
Receiver’s Notice of Publication Regarding the Sale of Vardon #106
View Document [296]
Receiver’s Second Notice of Publication Regarding the Sale of Vardon #106
View Document [302]
Order Granting Receiver’s Motion to Approve Sale of Real Property – 16904 Vardon Terrance #106
View Document [303]
Motion to Amended Order Approving Sale of Vardon #106
View Document [305]
Amended Order Granting Receiver’s Motion to Approve Sale of Real Property – Vardon #106
View Document [307]
Receiver’s Fifth Interim Report
Announcements, Receiver ReportsReceiver’s Fifth Interim Report (with Exhibits)
Receiver’s Fourth Interim Report
Announcements, Receiver ReportsReceiver’s Fourth Interim Report
Letter to Investors
AnnouncementsView Letter
Complaint – Ray Montie, III Combined
AnnouncementsComplaint – Ray Montie, III Combined
View Document