Texas Man Convicted In $60M Telecom Scheme

Law360, New York (October 21, 2011, 8:08 PM EDT) -- A Texas federal jury on Thursday convicted a Dallas man for his role in a bandwidth-buying scheme that defrauded British telecommunications companies BT Group PLC and MCI out of more than $60 million.

After an eight-day trial, Michael Signoretto, 73, was convicted of one count each of conspiracy to commit wire fraud and conspiracy to obstruct an official proceeding. He faces up to 20 years in prison on each charge.

Signoretto and five co-conspirators were indicted in 2009 on charges including wire fraud and conspiracy. Four...
To view the full article, register now.