Floyd Irons pleads guilty to federal fraud charges
By JIM SALTER
Associated Press Writer
Associated Press Writer
Sep 21, 2007 - 12:00:39 CDT
ST. LOUIS (AP) — One of the most successful high school basketball coaches in Missouri history pleaded guilty Thursday to federal charges of wire fraud and mail fraud.
Floyd Irons entered the plea in U.S. District Court in St. Louis in connection with real estate purchases he made in 2005. He could face up to 30 years in prison and a $1 million fine. Restitution is mandatory. Sentencing is Nov. 29.
A co-defendant, John Mineo Jr., 47, also pleaded guilty to one count of mail fraud. Mineo operates a restaurant and was employed as a mortgage broker at Midwest Mortgage Consultants LLC.
“These defendants both allowed greed to tarnish successful and noteworthy careers,” U.S. Attorney Catherine Hanaway said. “Now, they are facing lengthy prison sentences and the prospect of spending many years paying back this ill-gotten money.”
Meanwhile, Hanaway said Irons agreed as part of a plea agreement to cooperate with the Missouri State High School Activities Association concerning recruiting violations and other potential rules violations. A written statement from Hanaway did not specify if Vashon was under investigation. Calls to her office, and to the MSHSAA office in Columbia, were not returned.
Irons did not have a listed phone number.
Irons spent 33 years at Vashon High School in St. Louis, leading the boys team to 10 state championships. He was forced out in 2006 after an internal audit of the school alleged money had been mismanaged.
The mortgage fraud charges are unrelated to Irons’ work in the school district.
Hanaway described a complicated kickback scheme in which Irons and another man purchased several homes through Mineo in late 2005 and early 2006 for a total of more than $1.6 million. Irons’ annual salary at Vashon was about $90,000.
Hanaway said Irons and the other man, identified only as John Doe, would obtain loans through Mineo’s company with the agreement that 10 percent or more of the sales price would be “kicked back” to them.
Irons told the St. Louis Post-Dispatch last year that he had bought the houses as a retirement investment. He ended up defaulting on the loans, the newspaper said.
Irons, 60, was fired by the city school board in July 2006. The firing was against the wishes of former Superintendent Creg Williams, who resigned later that year.
Irons came under scrutiny in early 2006 after an internal audit revealed Vashon administrators had, without authorization, spent tens of thousands of dollars in basketball receipts on, among other items, a $50,000 scoreboard, about $100,000 for new uniforms and $5,900 on a gymnasium floor.
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Floyd Irons entered the plea in U.S. District Court in St. Louis in connection with real estate purchases he made in 2005. He could face up to 30 years in prison and a $1 million fine. Restitution is mandatory. Sentencing is Nov. 29.
A co-defendant, John Mineo Jr., 47, also pleaded guilty to one count of mail fraud. Mineo operates a restaurant and was employed as a mortgage broker at Midwest Mortgage Consultants LLC.
“These defendants both allowed greed to tarnish successful and noteworthy careers,” U.S. Attorney Catherine Hanaway said. “Now, they are facing lengthy prison sentences and the prospect of spending many years paying back this ill-gotten money.”
Meanwhile, Hanaway said Irons agreed as part of a plea agreement to cooperate with the Missouri State High School Activities Association concerning recruiting violations and other potential rules violations. A written statement from Hanaway did not specify if Vashon was under investigation. Calls to her office, and to the MSHSAA office in Columbia, were not returned.
Irons did not have a listed phone number.
Irons spent 33 years at Vashon High School in St. Louis, leading the boys team to 10 state championships. He was forced out in 2006 after an internal audit of the school alleged money had been mismanaged.
The mortgage fraud charges are unrelated to Irons’ work in the school district.
Hanaway described a complicated kickback scheme in which Irons and another man purchased several homes through Mineo in late 2005 and early 2006 for a total of more than $1.6 million. Irons’ annual salary at Vashon was about $90,000.
Hanaway said Irons and the other man, identified only as John Doe, would obtain loans through Mineo’s company with the agreement that 10 percent or more of the sales price would be “kicked back” to them.
Irons told the St. Louis Post-Dispatch last year that he had bought the houses as a retirement investment. He ended up defaulting on the loans, the newspaper said.
Irons, 60, was fired by the city school board in July 2006. The firing was against the wishes of former Superintendent Creg Williams, who resigned later that year.
Irons came under scrutiny in early 2006 after an internal audit revealed Vashon administrators had, without authorization, spent tens of thousands of dollars in basketball receipts on, among other items, a $50,000 scoreboard, about $100,000 for new uniforms and $5,900 on a gymnasium floor.