Summary

On July 27, 2015, Ricardo Colon was sentenced in U.S. District Court, Nashville, Tennessee, to 18 months incarceration, 36 months supervised release, and ordered to pay $327,679.20 in restitution, for theft from a federally funded program.

Colon was contracted by the Tennessee Department of Transportation (TDOT) to purchase tracts of real property for right of way projects involving federal funds. He appraised the tracts of land, negotiated a sales price, and received funding from TDOT to acquire the tracts; however, he never completed the transactions and instead deposited approximately $330,000 into his personal bank accounts.

We conducted this investigation with the Federal Bureau of Investigation.