Former Real Estate Exec Gets 10 Years For $18M Fraud

Law360, Chicago (April 30, 2013, 9:00 PM EDT) -- A former real estate investment businessman was sentenced in Illinois federal court Tuesday to 10 years in prison for taking part in a fraud scheme that the government said cost hundreds of investors a total of $18 million in losses.

Michael Morawski, 56, pled guilty to two counts of mail fraud under a plea deal in September, when he admitted he and co-defendant Frank Constant ran the scheme through a set of real estate investment companies they operated called Michael Franks LLC, Michael Franks Holding LLC...
To view the full article, register now.

Related

Sections

Case Information

Case Title

USA v. Morawski et al


Case Number

1:11-cr-00342

Court

Illinois Northern

Nature of Suit

Date Filed

December 7, 2011

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.