Pensacola-Area Contractor Pleads Guilty to 19 Felonies After Taking Millions From More Than 150 Homeowners

Published Oct. 12, 2026. Case statuses are current as of that date.

Homeowners across Northwest Florida paid a contractor for work that, prosecutors say, was never completed. More than three years after his arrest, the contractor has admitted guilt in all 13 cases against him.

On Oct. 6, 2026, Matthew Scott Banks, 43, a former Escambia County contractor, pleaded guilty to all counts in 13 construction-fraud cases, State Attorney Ginger Bowden Madden of Florida's First Judicial Circuit announced [1][2]. The plea covers 19 felony charges [2][3] and lists 161 people victimized by his conduct [1].

Note on status: Banks has pleaded guilty but has not been sentenced. Sentencing is set for Dec. 4, 2026 [1]. No homeowners are named in this article.

How the scheme worked

Banks was indicted in April 2023 after an investigation into allegations that he victimized more than 150 homeowners between May 2019 and December 2022 [2][3].

The State Attorney previously said that Banks and his business, Banks Construction Group LLC, took more than $5 million in customer funds, materials and services across Escambia, Santa Rosa and Okaloosa counties "without completing the promised work," NorthEscambia.com reported [2].

The charges he admitted describe the pattern [2]:

• Taking payments and not refunding them. Thirteen of the 19 counts are "failure to return payment by contractor": six involving $20,000 to $200,000 and seven involving $1,000 to $20,000.
• A pattern, not a dispute. Banks also pleaded guilty to aggravated white-collar crime, organized fraud of $50,000 or more, and unlawfully conducting a business enterprise under Florida's RICO Act.
• Theft. He pleaded guilty to grand theft of $20,000 to $100,000 and grand theft of $5,000 to $10,000.
• Evidence. He also pleaded guilty to tampering with evidence.

The plea deal

Under the negotiated plea [1][2][3]:

• Prison cap: 25 years in state prison. WEAR reported he faces a minimum of 11.5 years; he had faced up to 240 years before the plea.
• Restitution: a stipulated minimum of $4,760,335.58 across 161 victim and business accounts, with any more to be decided at a later restitution hearing.
• Probation: NorthEscambia.com reported there is no cap on any later term of probation, or on prison time that could be imposed if probation is violated.
• Appeals: the State Attorney's Office said Banks accepted responsibility and waived appeals.
• Sentencing: before Chief Judge John Simon on Dec. 4, 2026.

Banks has been held without bond in the Escambia County Jail since his April 2023 arrest, NorthEscambia.com reported [2].

Banks' brother-in-law, Jesse LaCoste, is serving a 40-year state prison sentence after being convicted in two contractor-fraud cases involving grand theft and racketeering, and faces additional pending charges in Escambia, Santa Rosa and Okaloosa counties, according to WEAR and NorthEscambia.com [2][3]. LaCoste is presumed innocent in the cases that remain pending.

The person who pleaded guilty

Matthew Scott Banks, 43, former Escambia County contractor and operator of Banks Construction Group LLC. Assistant State Attorney Robert Paul Gillespie prosecuted the case [1].

Red flags when hiring a contractor

• Big deposits demanded before any permits are pulled or materials arrive.
• Start dates that keep slipping while the contractor keeps asking for more money.
• The same company taking on many jobs at once, especially after storms, when demand is high.
• No written contract with a scope of work, schedule and payment milestones.
• Unlicensed or unverifiable contractors. In Florida, check licenses with the Department of Business and Professional Regulation.

What to do if you're targeted, or already paid

1. Pay in stages tied to completed, inspected work. Avoid paying in cash.
2. Verify licenses and insurance, and check for complaints before signing.
3. Get it in writing: scope, materials, timeline and refund terms.
4. If work stops, send a written demand for a refund and keep copies of everything.
5. Report it to local law enforcement and your State Attorney's Office, and file with the Florida Attorney General and the FTC at ReportFraud.ftc.gov. People with questions about this case can contact ASA Gillespie's office at (850) 595-4200, according to the State Attorney's announcement [1].

Case status (as of Oct. 12, 2026)

Defendant	Court	Status as of Oct. 12, 2026	Source
Matthew Scott Banks, 43	Florida First Judicial Circuit (Chief Judge John Simon)	Pleaded guilty Oct. 6, 2026, to all 19 felony counts in 13 cases (incl. aggravated white-collar crime, RICO, organized fraud, tampering with evidence, grand theft, failure to return contractor payments); 25-year prison cap; minimum restitution $4,760,335.58; waived appeals; sentencing Dec. 4, 2026; held without bond	[1], [2], [3]
Jesse LaCoste (mentioned)	Florida First Judicial Circuit	Convicted in two contractor-fraud cases; serving 40-year sentence; other cases pending	[2], [3]

Statuses can change. A guilty plea is not a sentence.

Sources

1. Office of the State Attorney, First Judicial Circuit of Florida, "Matthew Banks Enters Guilty Plea Resulting From Construction Fraud – Assistant State Attorney, Robert Paul Gillespie," Oct. 6, 2026. https://osa1.org/2026/10/06/matthew-banks-enters-guilty-plea-resulting-from-construction-fraud/
2. NorthEscambia.com, "Former Contractor Matt Banks Pleads Guilty to 19 Felonies, Faces Up to 25 Years," Oct. 7, 2026. http://www.northescambia.com/2026/10/former-contractor-matt-banks-pleads-guilty-to-19-felonies-faces-up-to-25-years
3. WEAR-TV, "Former Pensacola contractor Matt Banks takes plea deal, faces up to 25 years in prison," October 2026 (accessed Oct. 12, 2026). https://weartv.com/news/local/former-pensacola-contractor-matt-banks-takes-plea-deal-faces-up-to-25-years-in-prison

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