Speculator, Lawyer Sentenced in Land Swap

A judge sentenced two Okaloosa County men to federal prison Wednesday for their roles in an investment scheme.

The judge sentenced land speculator Stephen Alford to 10 years in prison and attorney David Fleet to three years incarceration for their parts in the scheme to trade swamp land to be used as an Air Force bombing range in exchange for prime beach property.

Both men were given three years of supervised probation and ordered to share in $12 million restitution.

Fleet and Alford were convicted in October on multiple counts of wire fraud, money laundering and other charges relating to the failed land deal.

They used investor's money to buy cars, art work and other personal items. Alford contributed additional cash to a congressional candidate while seeking passage of legislation to allow the land swap.