Sunday, December 7, 2008

Ohio Broker Found Guilty On 68 Felony Counts Of Fraud

David B. Willan, 38, of Akron, Ohio, former founder and president of Evergreen Investment Corp., was found guilty on all 68 counts, including 16 first degree felony counts, by a jury trial on Friday. Willan had been charged in December 2007 along with 16 others, in a 147-count indictment alleging securities fraud, aggravated theft, theft from the elderly and a host of other fraud allegations in a 147 count indictment. Losses to investors was at least $2.6 million as a result of Willan and his co-conspirator's fraud, according to reports. The jury deliberated nearly 10 hours over a period of three days before reaching its verdict. Willan faces 3 to 10 years in prison for each first degree felony count conviction, plus a fine up to $20,000 per count.

Read the story here and here.

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