David Steven Goldfarb, 60, of Paradise Valley, Arizona, was convicted by a jury Monday of conspiracy to commit mail fraud and three counts of mail fraud for running a scheme that bilked investors more than $40 million. According to prosecutors, between 1999 and 2003, Goldfarb and three co-defendants sold investors over 300 contracts to set up rehabilitation facilities, promising high returns. He faces 20 years in prison plus fines. Other related defendants in this case include Arizona residents Richard Ross, 67, Paul Woodcock, 60, Colin McHale, 40, Milton Guenther, 51, and James Bonebrake, 59. Also indicted were Mike Ibler, 54, of Sweethome, Oregon, and Raymond Marshall, 57, and Brian Ongaro, 48, both of Frisco, Texas.
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4 comments:
This man owns the company I currently work for and he has been in this week. He went into the hospital on Monday after the conviction was read, but I suppose he is out on bail until the sentencing hearing. Hopefully he does actually go to jail b/c he and the other owners are very greedy and cheat customers every chance they get. Hopefully, the investors will get their money back.
My family was one of their first victims in 1998, the first CORF in arizona sabino rehab, this was before they started CORF management.
My family lost 3 houses one of which had been in our family for over 100 years. I hope dick, mick and woodcock have to serve some serious time.
This not the first time these people have done the same scheme using the Health Clubs for rehabilitation. We got taken for
480K plus over 300K for the lawsuite. Hope they get enough time that it can't happen again.
does any one know if goldfarb has been sentenced ??
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