Vista Man Faces 12 Years For Conspiracy Convictions
A Vista, California man that offered a program promising large returns and affordable homes to consumers was found guilty of four felony conspiracy charges on Tuesday, according to an article in the North County Times, reported at nctimes.com. He beat a fifth charge.
The conspiracy charges related to grand theft, false pretenses, forgery and filing a false document. Three co-defendants were also convicted of some of the charges, and received acquittals on others.
The man, through his company, offered prospective homebuyers a 20 percent return on any investment and a program wherein each participant could buy a newly built home for an upfront investment of $7,500. No homes were ever built.
To read more, see Several guilty verdicts in First Latino case
.
The conspiracy charges related to grand theft, false pretenses, forgery and filing a false document. Three co-defendants were also convicted of some of the charges, and received acquittals on others.
The man, through his company, offered prospective homebuyers a 20 percent return on any investment and a program wherein each participant could buy a newly built home for an upfront investment of $7,500. No homes were ever built.
To read more, see Several guilty verdicts in First Latino case
.
posted by Home Equity Theft Reporter at 12:01 PM
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