A forensic accountant’s review of bank records found Boston Finance Group drew more than $10 million from the Center for Special Needs Trust Administration between March 2013 and February 2014, while Jolly worked at the firm. Jolly has not been accused of wrongdoing, and court records do not indicate he knew about the transfers or took part in the alleged scheme.

Jolly has said he was employed at a separate company from the nonprofit and that the suspected conduct appeared to have happened mostly after he left. He told the Tampa Bay Times he was unaware of the transfers described in the indictment. His campaign says he was one of more than 100 employees, had no financial oversight role and was never contacted by investigators.

The nonprofit, known as CSNT, was established to manage and invest funds held in trusts for people with disabilities. Federal prosecutors say it managed about $200 million across more than 2,000 trusts as of 2024. Prosecutors allege businessman Leo Govoni, who co-founded the organization, used Boston Finance Group as a conduit to move money away from the nonprofit for improper purposes, including personal enrichment.

Govoni was indicted on federal charges including conspiracy and fraud after Jolly began his campaign for governor. He has pleaded not guilty and is being held pending a trial scheduled for next year. The allegations have not been proven in court.

Court filings in a related bankruptcy case show Boston Finance Group received a revolving credit line of up to $100 million from CSNT. By late 2024, the company had borrowed nearly $100 million and repaid about $19 million, according to the forensic accountant. A judge later found the firm liable for about $120 million, including interest.

The filings do not establish what happened to the money transferred while Jolly worked at the company or whether it was connected to the conduct prosecutors allege. The indictment focuses on several transfers in 2020, years after Jolly left Boston Finance Group.

Jolly worked at the firm from 2012 until March 2014, when he won a special election to represent a Tampa-area district in Congress. He reported $468,750 in income from the company during that period, including $250,000 in 2013. Govoni donated to Jolly’s campaigns and was a finance co-chair of his 2016 U.S. Senate campaign. Jolly has said he returned Govoni’s political contributions to victims and urged other recipients to do the same.

The relationship extended beyond Jolly’s employment. His wife worked for another Govoni-run company while he was in Congress, and Govoni’s son worked in Jolly’s congressional office in 2014, according to disclosures and statements cited in the reporting.

The alleged theft has had serious consequences for families who relied on the nonprofit to safeguard care funds. Milt McMinn told reporters that more than $1 million from legal settlements for his son, Chase, was placed in a CSNT-managed trust after Chase was left quadriplegic and in need of round-the-clock care following a 2017 shooting. McMinn said between $200,000 and $360,000 went missing and that the family has had to cover some expenses out of pocket.

Jolly, a former Republican who left the party during the Trump era, is seeking to become Florida’s first Democratic governor this century. He is running against Republican U.S. Rep. Byron Donalds. His campaign argues that his break with the GOP and voter dissatisfaction could create an opening in a state where Democrats have struggled to win statewide elections.