Tuesday, November 11, 2008

Family of 3 in NY are Convicted of Investment Scam

Newsday.com reports that 55-year-old Ronald Persaud, his 50-year-old wife Esther promised, and their 24 year old son Shawn have been convicted with multiple counts of conspiracy, wire fraud, and money laundering conspiracy. The couple promised to secure millions of dollars in overseas financing for investors to develop ski resorts, theme parks, and large-scale projects in return for a fee. But, after the couple received commissions, they never came through with the money. Their sentencing is set for March 9th.

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