Michael Folsom, former owner of Folsom Construction Management was recently found guilty by a Polk County Jury of three counts of Misapplication of Funds Received for Real Property Improvements and three counts of Making or Furnishing a False Statement. Folsom was hired as the General Contractor for a warehouse project on Combee Road. During this project, Folsom received funds intended for the subcontractors into his business account. Between February and August 2019, instead of paying the subcontractors, Folsom used those funds and various loans on personal expenditures, totaling almost two million dollars. In order to receive those funds, FCM submitted false affidavits to the Developer, swearing all subcontractors had been paid. Folsom failed to pay hundreds of thousands of dollars to numerous subcontractors for the work they performed in April, May and June of 2019 on the Combee warehouse project. As a result, FCM dissolved and the subcontractors were left unpaid. Folsom was sentenced to 5.4 years Florida State Prison and 20 years Probation. State Attorney Brian Haas thanks Assistant State Attorney Courtney Durden and the Polk County Sheriff’s Office for their work on this case.

SAO 10 seal with social media logos