Guilty Verdicts In $550M Fraud Case

Law360, New York (July 25, 2006, 12:00 AM EDT) -- Two former executives of the Baptist Foundation of Arizona (BFA) each face more than four decades in prison after their conviction Monday on charges stemming from their roles in the foundation’s collapse.

Following a 10-month trial, former BFA president William Pierre Crotts and Thomas Dale Grabinski—BFA’s erstwhile general counsel—were each convicted of three counts of fraud and one count of illegally conducting an enterprise.

Crotts and Grabinski each face the possibility of more than 46 years in prison when they are sentenced on Sept. 29....
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