Spencer Calvert built Pineapple Corporation into Florida's premier custom home builder.
He became the go-to for wealthy clients, including TV star Captain Sandy Yawn.
From 2019-2023, he left most of his 63 luxury homes as empty concrete slabs.
Now he faces 30 years in prison. pic.twitter.com/Fl8UgQMvGi
— Jason Forrest (@thejasonforrest) May 8, 2025
13+ homeowners lost deposits from $250K to over $1M.
Some invested life savings into dream homes.
Others liquidated retirement accounts for Florida paradise.
Victims didn't realize Pineapple Corp's business wasn't building homes – just moving money. pic.twitter.com/tALGPjcaay
— Jason Forrest (@thejasonforrest) May 8, 2025
As timelines stretched from 12 to 36 months, money flow couldn't keep up.
When homeowners hired inspectors who found their multi-million homes barely started, everything collapsed.
That's when investigators discovered something shocking:
— Jason Forrest (@thejasonforrest) May 8, 2025
Court records show Calvert spent client money on:
• Charter planes
• Expensive liquor
• $19K on Jaguars tickets
• Lavish personal itemsAll while blaming "supply issues" for delays.
What made this scheme work so well? pic.twitter.com/49ensWUiUs
— Jason Forrest (@thejasonforrest) May 8, 2025
The obvious warning? Poor communication.
Good builders stay in constant contact.
Calvert became unreachable as projects stalled.
Another red flag: contracts with arbitration clauses limiting legal options.
— Jason Forrest (@thejasonforrest) May 8, 2025