Wire fraud can be a serious federal crime. Lawrence Foster, a Miami Beach
resident, was convicted on all counts following a jury trial for his role
in defrauding over 100 investors of over $8 million dollars. Foster fraudulently
promised investors that his company, Paradise is Mine, was developing
land in the Bahamas. Foster was sentenced yesterday to 152 months’
imprisonment and ordered to pay over $8 million in restitution by the
U.S. District Judge Donald L. Graham. According to, the Department of Justice:
- The government announced its intent to use the forfeited monies to repay
a portion of the $8 million owed to the victims of the fraudulent scheme.
- Foster’s co-defendants were previously sentenced for their roles
in the fraudulent scheme.
- Salesperson Jordon McCarty, 37, of Fort Lauderdale, was sentenced in November
2013, to 78 month’s imprisonment for his role in defrauding investors.
Johana Leon, 39, of Miami Beach, was sentenced in May 2015, to one year
and one day imprisonment, after being convicted of structuring currency
- Mr. Ferrer commended the investigative efforts of the FBI. The case was
tried by Assistant U.S. Attorneys H. Ron Davidson and Robert Watson. Assistant
United States Attorneys Evelyn Sheehan and Karen Moore handled the forfeiture
proceedings in this case.
A copy of this press release may be found on the website of the United
States Attorney’s Office for the Southern District of Florida at
www.usdoj.gov/usao/fls. Related court documents and information may be found on the website of
the District Court for the Southern District of Florida at
www.flsd.uscourts.gov or onhttp://pacer.flsd.uscourts.gov.