Ex-hotelier Nik Patel

Feds say indicted businessman tried to flee to Ecuador

is arrested again as federal law-enforcement officials say the indicted businessman was about to flee to Ecuador.

Indicted Orlando businessman and hotelier Nik Patel, who pleaded guilty to a massive fraud of more than $179M, was arrested again after trying to board a plane in Kissimmee to flee the United States, according to federal prosecutors.

Patel was in custody as of Monday afternoon, said Joe Fitzgerald, a spokesman for the U.S. Attorney’s office in Chicago. U.S. District Judge Charles P. Kocoras revoked Patel’s long-standing bond.

Patel, 34, had been scheduled for sentencing today in federal court. But he tried to fly Saturday to Ecuador, federal authorities said in a court filing.

“On January 6, 2018, Patel traveled from his residence to the Kissimmee Gateway Airport in Kissimmee, Florida for the purpose of fleeing the United States … ” prosecutors said in a request for a warrant. “Patel was in possession of a passport ... that appeared to be issued by the Government of India.”

The document doesn’t say how the feds were alerted, but they have been monitoring his actions.

Patel now faces an additional charge of flight to avoid prosecution, according to the court docket.

Attempts to reach Patel or his attorneys were not successful Monday.

Patel was originally nabbed in September 2014, for selling about 26 fake loans to a Milwaukee financial firm, Pennant Management. He was later indicted for falsely saying his loans were guaranteed by the U.S. Department of Agriculture. Patel was also sued in civil court, and most of his assets became part of a civil-court receivership.

Having pleaded guilty more than a year ago, Patel had been free on bond while he supposedly helped the court recover money he stole. He had numerous sentencing hearings postponed over three years.

It’s not unusual for criminal cases to linger for years, especially complex financial cases, said Kendall Horween, a former Orange County prosecutor. But he said violating conditions of bonded parole, or attempting to flee, can negate any good deeds done on parole.

“Even if there is a financial mess like this, someone eventually says, ‘Enough is enough,’ ” Horween said.

Patel was a high-rolling owner of First Farmers Financial who was buying up hotels in Orlando and other cities. He also invested in restaurants and donated personally to the campaigns of Gov. Rick Scott and other local politicians.

Investigators have recovered about $100 million by selling off Patel’s hotels, cars and other property. But the scope and damage of his alleged crimes widened over time, too. Pennant Management closed and retirement funds that invested through Pennant reported losses.

Illinois Metropolitan Investment Fund sued USDA for $50 million. The USDA has denied responsibility for the fake loans.

Patel was also arrested April 4 in Panama City for DUI, refusing a sobriety field test, driving on a suspended license and failure to change his address on his license, according to Bay County circuit court records. He pleaded no contest to the DUI, records said.

Patel has had several attorneys, including Orlando-based Mark NeJame, who no longer represents him. Last August, NeJame agreed to surrender ownership of an International Drive office building he accepted as part of a legal fee in the criminal case of Patel. The building was sold to contribute some of the proceeds to the recovery of funds in the case. NeJame told the Sentinel at the time he turned over the building to avoid litigation and for the benefit of creditors in the case.

“We accepted it in good faith and acted in good faith,” NeJame said in August.