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Real estate broker accused of defrauding investors out of $2.8 million
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Local real estate broker Samir Cabrera was charged Thursday with four counts of fraud in what Managing Assistant U.S. Attorney Doug Molloy said is the first in a series of indictments.
Cabrera is the husband of NBC2 anchor Jessica Stilwell and the son-in-law of Lee County Manager Don Stilwell. He worked for hi-profile magnate Frank D’Alessandro before D’Alessandro’s kayaking death last September, and was named in numerous lawsuits against D’Alessandro and his companies.
The charges say Cabrera flipped land from one investment group to another, never revealing his status as controlling both and pocketing $2.8 million in the process. His attorney John Mills said Cabrera will plead not guilty, and had cooperated with investigators.
Molloy said his office will seek the maximum penalty for the charges, which could spell 20 years for each count.
“I think we owe the community,” he said. “Mortgage fraud and investment fraud have really done some damage to the community of Southwest Florida.”
Cabrera was released on $100,000 bond when his wife agreed to act as his custodian. He tested positive for cocaine when he turned himself in Thursday, and admitted he smoked marijuana as well, so he’ll be subject to random testing.
Molloy said the investigation had been under way for most of a year. He refused to say whether information supplied by Cabrera would lead to more indictments or whether he was currently presenting cases to the grand jury.
“When the real estate market was going great nobody cared,” he said. “When it went bad everybody cared. There is no room for fraud in real estate in Southwest Florida. It’s way too important to our economy.”
The alleged scheme centered on two pieces of property — 19 total acres — at 13701 and 13800 Fiddlesticks Boulevard in Fort Myers.
The indictment claims Cabrera, through his company STR & Associates, bought the 10 acres at 13701 Fiddlesticks for $3.9 million on January 30, 2006. Later that same day, STR sold the land to a company called Samir Cabrera, 13701 Fiddlesticks Blvd., LLC — an investor-funded company controlled by Cabrera — for $4.8 million.
Members of the investment group buying the land with Cabrera were not told they were also buying it from him, the charges say. Cabrera and other principals of STR pocketed $900,000.
Cabrera did the same thing two months later, the indictment says. On March 30, he bought 9 acres at 13800 Fiddlesticks for $3.015 million with one company, then sold it to another investor-funded company the same day for $4.915 million.
This time the gain was $1.9 million.
The wire fraud charges are rooted in investor transfers Cabrera arranged from banks in Minnesota, Michigan and Ohio.
The federal investigation into Southwest Florida land deals has been an open secret for several months. Cabrera’s indictment is but the first, Molloy said. He wouldn’t discuss other principals of STR — they are Raymond DeMarco and Todd Turner, both of Fort Myers — and wouldn’t say whether things Cabrera told investigators will lead to more indictments.
DeMarco and Turner could not be reached for comment.
Cabrera owns or has owned numerous investment companies in Southwest Florida.
Jessica Stilwell sat in court, slightly shaking her head while prosecutor Robert Barclift detailed the charges against her husband. She must co-sign his bond and agreed to make sure Cabrera abides by the rules of his release, including random drug tests and counseling and a mental health evaluation and any treatment ordered for either.
Cabrera must also tell his current employer about the pending charges. He’s been working in real estate in Miami, and staying in Fort Myers on weekends.
Mills said that Cabrera lost money like everyone else when the market soured. He said Cabrera told investigators the truth when he was questioned.
“This arrest is a mistake,” he said. “My client has told the truth. The next time he talks it’ll be in front of a jury.”
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I was wondering the same thing, maybe she can do some insider investigative reporting.
#1 Posted by GatorBite on June 19, 2008 at 4:03 p.m. (Suggest removal)
Interesting story! Jessica at 11:00!!
#2 Posted by dooley on June 19, 2008 at 4:03 p.m. (Suggest removal)
Awesome! Now go get ( Todd ) GATES who he was working for! It's about time!
I here the YAYO was ( is ) around that office daily, this just proves it. Jessica,.... you? who'd have thought?
#3 Posted by Naplesboating on June 19, 2008 at 4:42 p.m. (Suggest removal)
HEY NDN...."it's way TOO important"....not "to".
Geez.
#4 Posted by eaglebeak on June 19, 2008 at 4:53 p.m. (Suggest removal)
How humiliating for her. She will probably end up stepping down from her position thanks to her sleaze ball husband.
#5 Posted by SandnSurf on June 19, 2008 at 5:08 p.m. (Suggest removal)
Why should she step down? She's gonna dump him anyway. Unless she was in on it! Then she'll get dumped.
#6 Posted by complainersinnaples on June 19, 2008 at 5:29 p.m. (Suggest removal)
Jessica is one of my favorites!
I feel so sorry for her finding out about her husband in this fashion.
I hope her career survives this bump in the road.
Didn't she recently give birth to twins?
#7 Posted by Naplestango on June 19, 2008 at 6:22 p.m. (Suggest removal)
They need to investigate and prosecute the ones whom he worked for and approved these type transactions daily. Their names are Gates and D'Allesandro.....
#8 Posted by Naplesboating on June 19, 2008 at 7 p.m. (Suggest removal)
Why was Lee county Mgr's name mentioned? Or the the position of his wife. They have no relevance now. Why was he tested for drugs? If convicted he should definitely get time.
#9 Posted by jp1958 on June 19, 2008 at 7:43 p.m. (Suggest removal)
I think Jessica Stilwell is tops in journalism broadcasting however;where did she think the money was coming from? And they just had twins and this idiot is using cocaine and smoking pot?? How sad for this family. NBC-2.com Breaking News Breaking News..
Good Luck Jessica I hope everything works out for you.
#10 Posted by lawyerboy on June 19, 2008 at 8:04 p.m. (Suggest removal)
Why would she consider stepping down? I dont know, humiliation? Her husband has allegedly committed fraud and is a pot and coke head. Im sure she is a strong woman, but that is ALOT to over come. Secondly, Federal court always tests post detention hearings, then test again 30 days later, and your system better be clean or you violate conditions of bond and sit in jail.
#11 Posted by SandnSurf on June 19, 2008 at 9:05 p.m. (Suggest removal)
Oh yeah- less gov't interference in markets is a great idea.
Just ask the former employees and investors of/in Countrywide, Bear-Sterns, Enron. Too many more abusers of capitalism to list...
Business as usual. Without morals and adequate legal regulation.
But not for long, one way or another.
#12 Posted by leftubehind on June 19, 2008 at 10:23 p.m. (Suggest removal)
My prediction is that he will never be convicted of this. He will then claim he is broke, and she will owe him money, when they divorce.
We do not have enough investigators and prosecutors to convict all those guilty in ploys like this. The crooks are smarter and better advised than the people prosecuting them.
#13 Posted by volochine on June 20, 2008 at 1:04 a.m. (Suggest removal)
Innocent until proven guilty!!!
Many investors were turning property like that in those crazy days. Everyone of those investors thought they were going to make a killing. Then the market rebelled at these greedy people so they need to blame somebody else for their stupidity.
This is just the free enterprise system at work.
#14 Posted by JohhnyB on June 20, 2008 at 1:11 a.m. (Suggest removal)
With a few million in an off-shore bank they will both survive quite well!!!
If they filed taxes jointly they both are involved and it's hard to say "I didn't know."
#15 Posted by rtsspeaks on June 20, 2008 at 7:40 a.m. (Suggest removal)
JohnnyB hit the nail on the head. Everyone buys something if its a deal and then sells it for a profit.
#16 Posted by Hindsight on June 20, 2008 at 8 a.m. (Suggest removal)
Public records (MYFLORIDA.COM) clearly indicates that he is not a Broker, but only a Salesman. This might be another violation of unlicensed activity if he was acting as a Broker without being properly licensed. What a disgrace to the profession.
#17 Posted by fjf on June 20, 2008 at 8:50 a.m. (Suggest removal)
I say shame on the two of you. I don't believe that a news reporter didn't have some idea of what of her husband was doing either. I'm sure it was easy to not question the money while you were spending it. There are hard working, honest people in Naples who are losing their homes right now, and your greed and the greed of others is part of the reason. Here are two people who had a lot and it wasn't enough. The next piece of property coming your way Samir Cabrera will be a jail cell. I hope it was worth it!!
#18 Posted by dagaleaa on June 20, 2008 at 9:28 a.m. (Suggest removal)
Oh Dear God, Please let this family recover from this horrible storm they are going through. Please may this be the sign that they need to turn to you Jesus and leave behind the life of sin they lived in. In the name of Jesus I pray that this family will recover from this tragety and turn thier faith to you Lord. In Jesus name I pray.... AMEN
#19 Posted by EddieEstero on June 20, 2008 at 10:37 a.m. (Suggest removal)
This stuff has been going on for years. But now that a computer is involved. It is getting EXPOSED!!!!!!!!!
You could find stuff if you wanted to waste the time.
All the counties have to have deeds on line!!!!!!!!!!!!!!!
#20 Posted by jean on June 20, 2008 at 10:57 a.m. (Suggest removal)
I knew Samir personally back when he owned a nightclub in downtown Ft. Myers. He was always partying and had no shortage of ladies. To this day, his on-air proposal to Jessica was one of the most shocking things I've seen. I never thought he was the "marrying kind". As far as Jessica goes, maybe she was in the dark at first, but I find it hard to believe that after a decade with him she wouldn't be a little wiser.
#21 Posted by willies571 on June 20, 2008 at 12:24 p.m. (Suggest removal)
This is just the tip of the iceberg...you will soon begin to see more arrests, more charges of fraud, and more folks going off to jail. During the "height of stupidity" thousands of people were ripped off daily. The "GREAT FLORIDA LANDGRAB" is over and it's time to pay the debit.
Taxpayers and Crooks that is.
#22 Posted by outsidethebox240 on June 20, 2008 at 1:26 p.m. (Suggest removal)
FJF - the reporter is the one who titled the article and called the guy a "broker" ... doesn't matter whether he is a salesperson or broker, his activities are still illegal, duh
#23 Posted by dkg1960 on June 20, 2008 at 3:23 p.m. (Suggest removal)
#26.. LMAO!
#24 Posted by GeorgeGlass on June 20, 2008 at 4:48 p.m. (Suggest removal)
Bottom line...
Lay down with dogs and wake up with fleas.
#25 Posted by Opinionated on June 20, 2008 at 6:05 p.m. (Suggest removal)
I do feel a bit sad for Jessica Stilwell. Sometimes the wife is the last to know. He may have hidden many things from her.
We enjoy NBC-2 for news. I wish her the best. If he is a crook, she needs to know and move on. If she is involved...well my empathy would be gone.
#26 Posted by BlueTonguedVole on June 20, 2008 at 10:59 p.m. (Suggest removal)
The wife always knows. Women have that intuition. If she didn't tell as a news reporter, she failed her responsiblity to tell the truth.
Hopefully Samir is squirming big time right now.
#27 Posted by volochine on June 21, 2008 at 2:10 a.m. (Suggest removal)
If Jessica really didn't know then she reminds me of Hillary in being the last one to find out.
#28 Posted by Naplestango on June 21, 2008 at 5:57 a.m. (Suggest removal)
I noticed Jessica mentioned Sunday on air that she had been moving these past few days and how hot it was. I also read that Samir sold a house the day before the charges were filed for $100. Not looking good so far but YES,,,Innocent until proven guilty.
#29 Posted by swfdj on June 22, 2008 at 1:24 p.m. (Suggest removal)
its going to be really interesting to see what happens both in and out of court. Will Jessica stand by her man? I know there was a period of time she wasn't wearing her wedding ring. Will he go to prison? then what?
#30 Posted by bulbous on June 26, 2008 at 12:53 p.m. (Suggest removal)
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