John Lucidi, 45, an aspiring drink magnate behind the defunct alcoholic beverage Fader-Ice, pleaded guilty to embezzling hundreds of thousands of dollars from a Jacksonville window installation company he co-owned, court papers state.
The St. Johns County businessman also faces federal charges for identity theft and filing a false tax return.
According to court documents, Lucidi siphoned at least $295,000 from the company in 2021 alone through more than 100 fraudulent transactions.
He told a business partner the money went to a company for marketing services costing $25,000 a month.
The company’s web director called that claim “absurd,” noting that those companies charge no more than $2,000 monthly.
Lucidi also used his partner’s Social Security number to open a corporate American Express account, triggering the aggravated identity theft charge.
Lucidi has agreed to pay $659,393 in restitution.
He faces anywhere from two to 25 years at sentencing, with the final decision to be made by a U.S. District Court judge in the coming months.
This isn’t Lucidi’s first brush with federal prison.
In 2011, he pleaded guilty to a multi-million-dollar mortgage fraud scheme that defrauded lenders of roughly $7 million. After his release in 2017, he launched Fader-Ice, marketing it as a low-calorie, party-friendly alternative to beer.
Lucidi also ran Koehler Homes, a Jacksonville construction company, and a non-profit called “Rub It On Your Chest,” which claimed to help recently released inmates find work.
His now-defunct Fader-Ice website promoted him as a “party-loving” innovator who built businesses from the ground up despite past incarceration.
Lucidi lived in Celestina, a gated community in St. Johns County, and cultivated an image of entrepreneurial flair on social media.
Federal authorities have not yet set a sentencing date.
