St. Johns County homebuilder Spencer Calvert entered a guilty plea to 45 felony charges connected to a construction fraud scheme that left numerous Nocatee residences incomplete. Under a negotiated agreement, Calvert will pay $8,722,659.05 in restitution, including an initial $1 million payment at sentencing. The funds will be distributed to victims based on their individual loss percentages.
Calvert, formerly of Pineapple Corporation, pleaded guilty to charges including organized fraud, grand theft, and misappropriation of construction funds. Prosecutors allege he abandoned custom home projects in the Vista at Twenty Mile neighborhood between 2019 and 2023, leaving structures in various stages of completion. Investigators state he diverted more than $8.7 million in deposits from 15 cooperating victims, causing liens to be filed against their properties.
Circuit Judge Christopher Ferebee will sentence Calvert on July 14. The plea agreement allows for a sentence ranging from probation to five years in prison, followed by 30 years of probation. Proceeds from any remaining lots owned by Calvert or his company will also be applied to restitution. Calvert was arrested in 2024 after the case gained national attention, including from victims like Capt. Sandy Yawn.
