ST. JOHNS COUNTY, Fla. — A St. Johns County homebuilder has pleaded guilty to 45 felony charges in a construction fraud case involving more than $8.7 million in losses to homeowners.
During a court hearing Tuesday morning, Spencer Calvert entered guilty pleas to all charges against him, including:
- Organized Scheme to Defraud over $50,000
- 15 counts of Grand Theft over $100,000
- Grand Theft
- Misappropriation of Construction Funds over $100,000
- 26 counts of Misappropriation of Construction Funds between $1,000 and $100,000
- Misappropriation of Construction Funds under $1,000
Under the negotiated plea agreement, Calvert must pay $8,722,659.05 in restitution to victims.
At sentencing, Calvert is required to pay an initial $1 million, which will be distributed among the victims based on each person’s share of the total financial loss.
The agreement also provides for a sentence ranging from no prison time to five years in prison. Any term of incarceration will be followed by 30 years of probation, with the possibility of early termination if restitution is paid in full. The court will establish a minimum monthly restitution payment at sentencing.
Additional terms of the plea require any proceeds from the sale of remaining lots owned by Calvert or Pineapple Corporation to be applied toward victim restitution. Calvert also agreed to execute default judgments in related civil lawsuits, allowing victims to seek compensation through the Florida Homeowners’ Construction Recovery Fund.
According to investigators, between 2019 and 2023, Pineapple Corporation abandoned numerous custom home projects in the Vista at Twenty Mile neighborhood in Nocatee. Some homes had only foundations completed, while others had roofs but remained unfinished.
Authorities said Calvert accepted large upfront deposits from homebuyers with the representation that the funds would be used to pay subcontractors working on their homes. Instead, investigators determined he misappropriated a total of $8,722,659.05 from the 15 homeowners who cooperated with the investigation.
Because subcontractors were not paid, many filed liens against the victims’ properties for labor, materials, and services. Homeowners were left with significant financial losses, outstanding liens, and the added expense of hiring new contractors to complete construction.
The investigation was conducted jointly by the St. Johns County Sheriff’s Office and investigators with the Seventh Judicial Circuit State Attorney’s Office, with assistance from the Jacksonville Sheriff’s Office.
Assistant State Attorneys Jennifer Lieb and Monica Smith prosecuted the case.
The Honorable Christopher Ferebee is scheduled to sentence Calvert on July 14, 2026.