Boroian Purchased Condo Prior to Imprisonment

Records have now surfaced showing that Boroian purchased a condominium in the exclusive golf community of Bonita Bay, Florida last May, less than two months prior to surrendering to prison.  In signing his plea agreement with the U.S. Attorney in Illinois in March, he plead guilty to the tax evasion charges, vowing to reimburse the government monies owed over a four year period, which he had failed to report.  At his sentencing, the court required him to pay $100,000 toward his tax liability and sources stated that he sold his second home in Florida to make the payment. On July 19, 2006, Francorp had also been hit with an additional federal tax lien of $706,126.07.

But looking at the records of the Lee County Florida Recorder of Deeds (LeeCountyDeeds; BonitaSprgsMortgage), Boroian purchased the condo in the Wild Pines Country Club area of Bonita Springs on May 31. His name appears on the lease and deed along with the names of his company’s director of transportation—better known to Francorp staff as Boroian’s “driver” or “personal valet”—and his wife.  Sources are also revealing that lavish furnishings for the new home and other expenses are being paid for by Francorp through funneling money.