Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
ST. GEORGE, Utah (AP) — A St. George businessman has been sentenced for a multimillion-dollar real estate scam.
The Spectrum of St. George reports that a federal judge sentenced Edmund Edward Wilson late last week to nine years and ordered that he pay more than $12 million in restitution to his victims.
Prosecutors say several developers and investors paid advances of either $80,000 or $150,000 to get funding for commercial projects that ultimately never came.
They say the 72-year-old would tell investors that he needed more funds to cover unforeseen expenses.
According to court documents, he defrauded more than 80 victims in other states as well as Canada and Mexico.
Wilson pleaded guilty in August 2015 to charges of wire fraud and money laundering.
Under the agreement, 30 other counts were dismissed.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
