Fraudster caught buying $23 million in property, $132,000 Mercedes, Florida cops say

A convincing fraudster was in the process of buying $23 million in property and a $132,000 Mercedes-Benz when his elaborate lies caught up with him, according to the Sarasota County Sheriff’s Office in Florida.

So convincing was the conman that he also managed to finagle an invitation to the home of sportscaster Dick Vitale, where he agreed to donate $3 million to his foundation, the sheriff’s office said in a Nov. 2 news release.

All this happened while the “two-time felon” was on probation — and using a false name, officials said.

“On Saturday, October 29, deputies received the report of a series of suspicious transactions involving a man who identified himself as Robert Banagino,” the sheriff’s office said.

“Banagino hired a local realtor after claiming he was a business owner visiting Sarasota in response to Hurricane Ian. ‘Banagino’ expressed interest in purchasing a commercial property valued at $17.5 million and a second residential property valued at $5.2 million. As the local realtor began the transaction process, ‘Banagino’ also indicated he was interested in purchasing a Rolls Royce.”

That led to the realtor connecting him with a luxury car dealership “where he agreed to buy a 2022 Mercedes-Benz valued at more than $132,000,” officials said.

“While at the dealership, he alluded to his millions in assets and the need to donate money for tax purposes. The dealership manager introduced ‘Banagino’ to sportscaster Dick Vitale,” the sheriff’s office said.

“After visiting Vitale’s personal home, ‘Banagino’ pledged to contribute $3 million to the sportscaster’s foundation.”

Vitale, a longtime resident of nearby Bradenton, hosts an annual gala for pediatric cancer research. Since its inception in 2006, his foundation has raised approximately $55 million for the V Foundation for Cancer Research.

Investigators didn’t reveal how the man’s scheme came unraveled, but suspicions were aroused when he used a different last name while signing the purchase agreement for the Mercedes-Benz.

Detectives “soon identified the fraudster” as a 48-year-old Sarasota man who has two felony convictions and “is currently on probation for grand theft,” officials said.

He was arrested and faces “a single felony charge of scheme to defraud more than $50,000,” the sheriff’s office said.

“He remains in custody on $100,000 bond while the investigation continues,” officials said.

Sarasota is about 60 miles south of Tampa.

This story was originally published November 3, 2022 at 11:44 AM with the headline "Fraudster caught buying $23 million in property, $132,000 Mercedes, Florida cops say."