75-year-old Naples man federally charged in multi-year money laundering scheme

NAPLES, Fla. (WINK)— A Naples man faces federal charges after allegedly defrauding victims out of more than $3.7 million in a years-long scheme involving false promises of overseas funds.

Leonard W. Krane, 75, has been charged by indictment with four counts of wire fraud and two counts of money laundering, according to United States Attorney Gregory W. Kehoe. If convicted, Krane faces up to 20 years in federal prison on each count.

According to court records, Krane engaged in the alleged scheme between at least August 2017 and February 2025. He allegedly made false representations that he had substantial funds overseas and that he required upfront payments from victims to access them.

Krane promised that, in exchange for wiring him money—often tens or hundreds of thousands of dollars—victims would receive significant returns once the overseas funds were recovered. Instead, as alleged in the indictment, Krane did not invest the funds, and the promised returns never materialized.

The funds were used to support his personal lifestyle or were transferred overseas. The indictment further alleges that victim funds were rapidly withdrawn or laundered through international wire transfers to individuals located in the United Kingdom.

The indictment also seeks forfeiture of over $3.7 million and other assets traceable to the proceeds of the offenses. An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless and until proven guilty.