A Florida resident has entered a guilty plea in a federal court regarding charges of mail and wire fraud, as announced by Acting United States Attorney Troy Rivetti. The defendant, Paul Andrew Gulbronson, aged 59, was charged with one count of the indictment by United States District Judge Stephanie L. Haines.
The court was informed that Gulbronson engaged in a conspiracy to commit mail and wire fraud from approximately May 2017 until June 2019. Gulbronson ran Citrona Homes LLC, with offices in Holliday, Florida, and Johnstown, Pennsylvania, through which he solicited investments. Investors were assured that Citrona Homes LLC would acquire undervalued or vacant properties, renovate them, manage them, and eventually sell them at competitive prices. However, Gulbronson is accused of using the business to deceive investors into purchasing unrenovated properties at inflated prices, enriching himself through false promises.
Sentencing for Gulbronson is set for September 9, 2025. He faces a potential sentence of up to 20 years in prison and a fine of up to $250,000. The final sentence will consider the severity of the crime and Gulbronson's previous criminal record, if any.
The case is being prosecuted by Assistant United States Attorneys Maureen Sheehan-Balchon and Brendan T. Conway. Investigations leading to Gulbronson's prosecution were conducted by the United States Postal Inspection Service and the Department of Housing and Urban Development – Office of Inspector General.