In 2009, PBCEC and Everglades Earth First! helped in the victory against the Eagle Creek Military training center in Highlands County. Just recently, Greg Eagle, the person who spearheaded the training center was found to have committed a $19million loan scandal leading in a class action lawsuit against him and his pleading of guilty to 6 counts of Fraud. Read below from WINK for more details:
FORT MYERS, Fla. - Cape Coral realtor
Greg Eagle has pleaded guilty to six federal counts of fraud after
authorities say he forged documents and cost his investors millions of
dollars. Each of the six charges carries a maximum of thirty years in
This story begins more than twenty years ago and
includes bad financial bets, falsified documents and millions of dollars
that were lost.
In June of 1990, 52 investors bought a 101 acre
property along Pine Island Road in Cape Coral for nearly $3 million. It
was called the Pine Island 101 Land Trust.
Attorney Mark Trank is representing the 52 investors in a separate class-action lawsuit.
"It is good news, we've been waiting for this news for quite a long time," Trank said.
was a scheme that (Eagle) engaged in and as result the 50 plus
investors in the Pine Island Trust have lost their investment and in
many cases people have lost their life savings," said Trank.
In November of 2011, WINK News first introduced you to Dr. Charles Curtis, one of the investors.
"I'm sure it's affecting a lot of people and we would like to know how something like this can happen."
and other investors came together to buy the land, as they could buy
more as a group than individually. Greg Eagle was put in charge of the
The investors were expecting a big payday when they would eventually sell the land. But that payday never came.
to his plea deal in federal court, Eagle forged the documents on the
trust to take out a $17 million mortgage in order to fund another
project. He thought it was a can't-lost deal that would bring a homeland
security training facility to Florida. But he did lose. The project
fell through and Eagle never paid the loan.
The bank that issued the loan, First National Bank of Pennsylvania, filed for foreclosure on the property.
and other investors received a letter in the spring of 2011 from Eagle,
saying "there is no excuse for what I have done with mortgaging the
property for $17 million."
Eagle has also agreed to forfeit all
his assets immediately and pay his 52 victims restitution. Though it's
not clear how much they'll get, as Eagle lost nearly $40 million when
the Homeland Security project fell through.
expects the class-action lawsuit to go to trial this year. He hopes his
investors will at least be able to hold onto the property, which is