Charles Nolon Bush, 69, of Port Orchard, Washington, was convicted Friday of fraud and money laundering. Using fraudulent investment vehicles, Hulaman Management Services, Global Dominion Financial Services, and Cornerstone Institute, Bush was accused of bilking potential investors out of more than $35 million between 1998 and 2002 in phony investment schemes that promised high returns. Investigators said Bush used the money to support an extravagant lifestyle and to pay off earlier investors to continue the Ponzi scheme. He claimed the investments were for a Mexican resort called Cabo San Quintin. Bush fled authorities in 2002 and travelled to France and then Poland. Polish authorities apprehended him in August 2007 and was extradited to the US. Bush faces 20 years in prison plus fines in excess of $1 million. He is scheduled for sentencing on February 6, 2009.
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