A man who made a big splash four years ago by opening an Ybor City-based tech firm that he vowed would create a thousand jobs by 2015 is now under indictment.
“Savtira” head Timothy Roberts and associate Terrance Taylor are accused of defrauding investors with worthless stock.
They also allegedly lied about contracts, patents, and the Palm Avenue company’s worth to con investors to give money to his bogus cause.
Investors also didn’t know that the Securities and Exchange Commission had banned Roberts from selling unregistered securities in 2008 in a separate case—the exact thing he was doing with Savitra.
The indictment seeks more than $5 million from the pair.
They are free on bond.