Ill. Jury Convicts Father, Son Over $1.3M Investment Scheme

Law360, Chicago (December 3, 2019, 8:37 PM EST) -- An Illinois federal jury on Tuesday convicted a father on 24 counts and his son on 13 counts over charges that they convinced family members and two church congregations to invest in what was really a $1.3 million Ponzi scheme involving apartments in distress.

Babajan Khoshabe, 78, got convicted on all counts of wire fraud, mail fraud, money laundering and conspiracy to commit money laundering over the scheme that involved two others and began in 2011. His son Anthony Khoshabe, 36, who ran a property management company connected to the scheme, got convicted of money laundering and conspiracy charges but was...

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