David Jolly’s ties to Leo Govoni are facing renewed scrutiny after court records showed that millions of dollars moved from a disability trust management charity to a company where the Florida governor candidate worked.
Govoni, a Clearwater businessman and Jolly’s former employer, was indicted by a Tampa grand jury last year over allegations that he siphoned more than $100 million from the Center for Special Needs Trust Administration, or CSNT.
Jolly has not been accused of wrongdoing and the court documents do not suggest that he knew about or participated in the alleged scheme. He has said he was unaware of the transfers described in the indictment.
His campaign said he was one of more than 100 salaried employees working across Govoni’s companies and had no financial oversight or fiduciary responsibility.
“Congressman Jolly has been forthright with the public and the press since he learned of this matter when the rest of the world did last year, upon the arrest and public filings against Leo Govoni,” senior adviser Mark Riddle said.
“Congressman Jolly was one of over 100 W-2 employees among Govoni’s many companies. He never served as an officer or in a position of any fiduciary responsibility, nor did he ever have any visibility into the finances of Mr. Govoni or his companies.”
Money moved while Jolly worked for Govoni firm
Jolly worked at Govoni’s Boston Finance Group from 2012 until March 2014, when he won a special election to the US House representing a Tampa-area district. He reported earning $468,750 from the firm during that period, including $250,000 in 2013.
House campaign material described him as a vice-president at Boston Finance Group. The company was separate from CSNT, but prosecutors allege it was used to move and distribute money belonging to the charity.
CSNT was founded in 2000 to manage and invest the assets of people with disabilities. Prosecutors say it managed about $200 million across more than 2,000 trusts by 2024.
A forensic accountant examining bank records found that Boston Finance Group drew more than $10 million from CSNT between March 2013 and February 2014, while Jolly was employed there.
By late 2024, the company had borrowed just under $100 million from the nonprofit and repaid about $19 million, the accountant found. A judge later ruled that Boston Finance Group was liable for the full amount owed, including interest.
Federal prosecutors allege that most of the money was not invested for the benefit of CSNT’s clients. They described Boston Finance Group as a “slush fund and passthrough entity”, claiming that funds were distributed to other Govoni-controlled businesses for illegitimate purposes and personal enrichment.
The indictment alleges that several transfers made in 2020 amounted to wire fraud. It is not clear what happened to the money transferred during Jolly’s employment or whether it formed part of the conduct alleged in the indictment.
Govoni has pleaded not guilty to conspiracy, fraud and other charges. He was ordered to remain in detention ahead of a trial scheduled for next year. His lawyer declined to comment.
Jolly and Govoni’s political connections
Jolly has described Govoni’s alleged actions as “raw cruelty”. In a video released in July, he said he had worked for Govoni at a separate company from the one where the alleged theft occurred, and that the conduct appeared to have happened mainly after he had left.
Govoni donated to Jolly’s political campaigns and served as finance co-chair of his unsuccessful 2016 Senate campaign. Jolly’s wife was employed by another Govoni-run company while he was in Congress, and Govoni’s son worked in Jolly’s congressional office for part of 2014.
Riddle said Jolly had returned Govoni’s political contributions to victims and called on other recipients to do the same.
“Congressman Jolly has done something that no Republican politician has done: returned Mr. Govoni’s political contributions to his victims,” he said.
Jolly, a former Republican who left the party during the early Trump era, is running for Florida governor as a Democrat against Republican congressman Byron Donalds. Democrats have not won the state’s governorship this century.
