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...
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