A former Florida-based speed boat builder has been found guilty of multiple felony counts including theft and defrauding creditors.
Todd Allen Lamb, 51, will be sentenced on November 26 2025 with a maximum sentence possible of 32 and a half years in prison.
A case against his ex-wife, Karen Nicole Lamb, who has been indicted on nine counts including felony charges of grand theft is still pending.
According to court documents, Todd Lamb defrauded victims across multiple states, including Delaware, New Jersey, Georgia, Kentucky, Ohio, and Tennessee.
The Lambs relocated high-performance boat company Spectre Powerboats to a space at DeLand Municipal Airport, Florida, from central Ohio in 2021.
Soliciting deposits
Lamb was accused of soliciting deposits and then failing to deliver the promised boats or refunding the purchasers.
The Logan County court documents showed Lamb engaged in the alleged criminal activity starting in 2017.
The court heard evidence that between 2017 and 2024, Lamb diverted funds received from customers into other business expenses, family loans and real-estate purchases.
All the funds taken from the Ohio residents were paid to the Lambs to build boats, the prosecutor, Eric Stewart said.
“They never got their boats and they did not get their money back,” Stewart said.
Trade-in
The scheme involved losses totalling nearly $1 million, with one victim, Terrance Weber, stating that Lamb accepted more than $270,000 for a custom 32-foot twin–outboard performance catamaran as part of a deal involving $80,000 as trade in for another vessel.
Weber said never received the boat he ordered and in a twist, was himself arrested when he tried to steal back the boat he had traded in.
Weber created a social media page denouncing Lamb’s activities. He was contacted by other victims who reported similar experiences with Lamb.
Damages
In July 2025, Weber pleaded no contest to burglary of an occupied structure and was sentenced to four years’ probation, ordered not to post on social media about Lamb or his business, and pay Lamb $50,000 for damages related to the vessel in question.
Weber sued the Lambs for his money back in April, alleging they had started boat manufacturing companies to cover a criminal enterprise.
The case stated that the Lambs built the boat he had commissioned but costs continue to rise and the vessel was sold to a third party.
