Aircraft Lease Co., CEO Convicted Of $50M Fraud Scheme

Law360, Chicago (March 14, 2012, 5:31 PM EDT) -- An Illinois federal jury found BCI Aircraft Leasing Inc. and its CEO Brian Hollnagel guilty on Wednesday of paying a bribe and of running a fraud scheme that prosecutors said pulled in more than $50 million from lenders and investors, but remained hung on charges against the company's managing director.

After roughly nine days of deliberations, the 12 jurors found Hollnagel, 38, and BCI guilty of six counts of wire fraud — including one tied to bribe money Hollnagel allegedly paid to ensure certain BCI deals...
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