PENSACOLA, Fla. — A jury convicted former Pensacola contractor Jesse LaCoste on Thursday of racketeering and organized fraud over $50,000.
The jury deliberated for approximately one hour.
LaCoste will be sentenced on Monday for the first-degree felonies. Each charge carries a maximum sentence of 30 years in state prison.
LaCoste is already serving 10 years in state prison after being convicted last year of contractor fraud and theft.
Court records show LaCoste is still facing trial in Escambia, Santa Rosa and Okaloosa counties in cases that accuse him of failing to complete work after his clients had paid.
This type of fraud targets the supply chain and accounts payable departments of businesses.
- Invoice Manipulation: Criminals intercept a legitimate invoice between a supplier and a client and change the banking details to their own. The client pays the bill thinking they are paying their trusted vendor.
- Kickbacks and Bribery: A vendor secretly pays an employee of the purchasing company to ensure their bid is successful or to overlook inflated pricing.