Leonard W. Krane, a 75-year-old resident of Naples, has been indicted on four counts of wire fraud and two counts of money laundering, United States Attorney Gregory W. Kehoe announced on Mar. 30.
The case is significant due to the alleged loss exceeding $3.7 million, with victims reportedly promised large returns in exchange for upfront payments to access overseas funds.
According to court records, from at least August 2017 through February 2025, Krane allegedly told victims he had substantial funds abroad but needed advance payments to release them. He assured those who wired him tens or hundreds of thousands of dollars that they would receive significant returns once the funds were recovered.
However, prosecutors allege that Krane did not invest the money as promised; instead, he used it for personal expenses or transferred it overseas. The indictment claims that victim funds were quickly withdrawn or laundered through international transfers to individuals in the United Kingdom.
Authorities remind the public that an indictment is only a formal charge and does not constitute proof of guilt; every defendant is presumed innocent unless proven guilty in court.
Anyone who believes they may be a victim can contact the Federal Bureau of Investigation at 800-CALL FBI (225-5324). The investigation is being conducted by the FBI and prosecuted by Assistant United States Attorney Patrick L. Darcey.
