NEW PORT RICHEY, Fla. – The owner of a local realty company has been arrested and charged with defrauding clients out of an estimated $1.5 million. Michael Bundy, 63, owner of Sunista Realty, was taken into custody following an investigation by the New Port Richey Police Department.
Sunista Realty manages properties and collects funds on behalf of its clients. According to the investigation, Bundy had been diverting client funds into escrow accounts and then depleting those accounts for his own use. Surveillance footage captured Bundy’s actions, confirming the fraudulent activity.
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Currently, 26 victims have been identified, with combined losses exceeding $360,000. However, authorities believe the total amount stolen could be significantly higher, potentially reaching $1.5 million, as more victims continue to come forward.
Bundy was arrested without incident at a local address in New Port Richey. He has been charged with Scheme to Defraud over $100,000 and Grand Theft. Additional charges are expected as the investigation progresses.
The investigation remains active, and authorities are urging anyone with information or those who believe they may be a victim of this scheme to contact the New Port Richey Police Department at 727-841-4550.
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