Former Boca Raton Lawyer Pleads Guilty to Wire Fraud in Nearly $7 Million Investment Scheme

Published Nov. 6, 2026. Case status is current as of that date.

Friends and clients who “loan” a lawyer money for a town construction project expect the cash to fund that project—not the lawyer’s personal bills. On Aug. 8, 2023, the U.S. Attorney’s Office for the Southern District of Florida announced that retired Boca Raton lawyer Craig Sherman, 80, pleaded guilty in West Palm Beach federal court to two counts of wire fraud [1].

Status: Pleaded guilty. The Aug. 8, 2023 release said a sentencing hearing would be scheduled later. Case No. 23-cr-80083 (S.D. Fla.). Each count carries up to 20 years; restitution was expected [1].

How the scheme worked, according to his admissions

According to the U.S. Attorney’s Office [1]:

1. From 2013 through 2020, Sherman—also town attorney for Bay Harbor Islands—solicited friends and clients to invest in real-estate projects there, promising 6%–8% annual interest with principal returned when construction finished.
2. Instead of funding the projects, he used investor money for personal expenses and to keep his law firm running, and used newer investor money to pay earlier investors. Total fraud was close to $7 million.

The person who pleaded guilty

Craig Sherman, 80. Retired Boca Raton lawyer; former Bay Harbor Islands town attorney. Pleaded guilty to two counts of wire fraud [1].

Case status (as of Nov. 6, 2026)

Defendant	Court	Status	Source
Craig Sherman, 80	U.S. District Court, S.D. Fla., 23-cr-80083	Pleaded guilty Aug. 7–8, 2023 to 2 counts wire fraud; ~$7M scheme; sentencing not yet announced in the Aug. 8, 2023 release	[1]

Statuses can change, including through sentencing and appeal.

Sources

1. U.S. Attorney’s Office, Southern District of Florida, “Former Lawyer Pleads Guilty to Wire Fraud in West Palm Beach Federal Court,” Aug. 8, 2023. https://www.justice.gov/usao-sdfl/pr/former-lawyer-pleads-guilty-wire-fraud-west-palm-beach-federal-court