ST. JOHNS COUNTY, Fla. — A custom homebuilder was sentenced to five years in prison Wednesday after pleading guilty to 45 felony counts related to an organized fraud scheme in St. Johns County.
Spencer Calvert, owner of the Pineapple Corporation, was also ordered to pay more than $8.7 million in restitution to his victims.
The sentence follows guilty pleas entered in June for charges including grand theft and misappropriation of construction funds. During the sentencing hearing, Calvert paid $1 million toward the total restitution amount of more than $8.7 million which was distributed among his 15 victims.
One of those victims is Bravo TV’s Capt. Sandy Yawn of “Below Deck” who testified in court during Calvert’s trial that she and her fiancée lost $1.6 million in the scheme.
Between 2019 and 2023, the Pineapple Corporation abandoned several projects in the Vista at Twenty Mile neighborhood in Nocatee. The homes were left in various stages of completion, ranging from those with only a foundation to those with roofs already installed. Investigators found that Calvert took upfront deposits to pay subcontractors but never issued the payments which led to multiple subcontractors filing liens against the victims’ properties for labor, services and materials.
As a result of the fraud, the victims lost hundreds of thousands of dollars and were burdened with hiring new contractors to finish construction. The negotiated plea agreement includes an agreement to execute default judgments in civil cases, which will allow victims to claim portions of the Florida Homeowners’ Construction Recovery Fund. Additionally, any proceeds recovered from remaining lots owned by Calvert or the Pineapple Corporation will go toward restitution.
Calvert faces 30 years of probation following his release from prison.
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