Treasurer of Hernando Youth League and CenterState Bank Executive (Sr. Vice President) David Donato has been charged with bank fraud. US Attorney A. Lee Bentley III filed the information and plea agreement charging Donato with bank fraud earlier this week. If convicted he could face up to 30 years in federal prison. The United States also intends to seek a money judgment in the amount of $143,878.80, that traces back to the fraud proceeds.
Donato worked at the Brooksville CenterState Bank branch located at 12435 Cortez Boulevard in Brooksville. Investigations revealed that while Donato was treasurer of Hernando Youth League between 2011 and 2015, he obtained 5 different lines of credit and loans from the bank in the name of the organization without its permission. He used the proceeds of the loan for his personal expenses which amounts to $143,878.80.
Donato used $98,420 for paying his mortgage, credit card and cell phone bills. He also wrote checks made out to himself totaling $39,350 as well as checks made out to cash for $3400. These checks were written from the HYL accounts without their consent. Donato had sole signature authority on the accounts.
The fraud was initially detected during a routine audit by CenterState Bank earlier this year.
The case has been investigated by the Hernando County Sheriff’s Office and the United States Secret Service. According to the Sheriff’s Office, Economic Crimes Detective Bill Horvath did extensive investigation into this case which led to this arrest. It will be prosecuted by Assistant US Attorney Mandy Riedel.
Donato also served as an alternate member of Brooksville Planning and Zoning, Treasurer of Leopard Quarterback Club of Brooksville, Founding Director of Hernando County Education Foundation and past chairman of the Parrott Middle School and Hernando High School advisory councils. In 2007 David Donato was appointed senior vice president and county executive for CenterState Bank West Florida operations in Hernando County.