Four with Failed Idaho Property Management Convicted
BOISE, Idaho (AP) — A federal jury has convicted four officials with a failed southwest Idaho property management company of fraud after they misled investors.
The Idaho Statesman reports the jury deliberated three days before returning the guilty verdicts Monday in the trial involving failed real estate company DBSI of Meridian. Company President Douglas Swenson was found guilty of 44 counts of security fraud and 34 counts of wire fraud. Company secretaries Jeremy Swenson and David Swenson, sons of Douglas Swenson, were convicted of 44 counts of security fraud.
Company attorney Mark Ellison was also convicted of 44 counts of security fraud. U.S. District Court Judge B. Lynn Winmill did not set a sentencing date. More than 22,000 claims have been filed with the bankruptcy trustee seeking to recover more than $102 billion.