$13.3M in real estate seized from Amodeo

ORLANDO, Fla., April 26 (UPI) -- The federal government has seized $13.3 million in real estate from Florida venture capitalist Frank L. Amodeo amidst allegations of embezzlement.

Government officials seized the property after the Orlando businessman was accused of buying real estate with money he stole from the now-defunct Mirabilis Ventures, the Orlando Sentinel reported Saturday.

The former venture capitalist is the target of a civil-forfeiture suit in federal court, in which he is accused of stealing nearly $187 million from a number of companies.

The suit, which also accuses a number of unidentified conspirators, alleges the illicit dealings involved companies either Mirabilis or Amodeo had dealings with since October 2004.

Assistant U.S. Attorney Randy Gold, who is heading up the investigation, said Friday's seizure was focused on repaying the Internal Revenue Service.

"We seized the assets to insure that the money goes to repay the IRS some of the $182 million in employment taxes that was not turned over to the government," Gold told the Sentinel.