A Pasco County man has pleaded guilty in federal court to charges of mail and wire fraud, according to an announcement made yesterday by Acting United States Attorney Troy Rivetti for the Western District of Pennsylvania.
Paul Andrew Gulbronson, 59, of Hudson, entered a guilty plea to Count One of the indictment.
During the plea hearing, the court learned that between May 2017 and June 2019, Gulbronson orchestrated a conspiracy to commit mail and wire fraud. He operated Citrona Homes LLC, which maintained offices in Holiday, Florida, and Johnstown, Pennsylvania, and actively sought investments.
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According to court documents, Gulbronson presented a business model to investors where Citrona Homes LLC would acquire undervalued, distressed, or vacant properties, renovate them to meet building codes, rent them out, and subsequently sell them to investors at or below market value.
Investors were also told that Citrona Homes LLC would manage these properties, provide complimentary maintenance and repairs for the initial two years, and cover utilities for a nominal monthly fee, promising a consistent stream of passive income.
However, the reality was far different. Gulbronson utilized Citrona Homes LLC as a vehicle for personal financial gain by deceiving investors into purchasing properties that were, in fact, unrenovated and significantly overpriced. This was achieved through a pattern of false pretenses, misrepresentations, and broken promises.
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Judge Haines has scheduled Gulbronson’s sentencing hearing for September 9, 2025. He faces a maximum sentence of 20 years in prison, a potential fine of up to $250,000, or both. The actual sentence will be determined based on the severity of the offense and any prior criminal history, as outlined by federal sentencing guidelines.
Assistant United States Attorneys Maureen Sheehan-Balchon and Brendan T. Conway are prosecuting the case.
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