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 because it involves alleged losses exceeding $3.7 million and accusations that Krane misled victims over several years by promising high returns in exchange for upfront payments.
According to court records, from at least August 2017 through February 2025, Krane allegedly told victims he had substantial funds overseas but needed their money to access those assets. Victims were promised large returns once the funds were recovered if they wired him tens or hundreds of thousands of dollars.
The indictment states that instead of investing the funds as promised, Krane used the money for personal expenses or transferred it abroad. The document also alleges that victim funds were quickly withdrawn or laundered through international transfers to individuals in the United Kingdom.
An indictment is only a formal charge; every defendant is presumed innocent unless proven guilty in court. If convicted, Krane faces up to 20 years in federal prison for each count. The indictment seeks forfeiture of more than $3.7 million and other assets connected to the offenses.
Anyone who believes they may be a victim can contact the FBI at 800-CALL FBI (225-5324). The Federal Bureau of Investigation is conducting the investigation, with Assistant United States Attorney Patrick L. Darcey prosecuting the case.
