2nd Real Estate Exec Gets 7 1/2 Years For $18M Fraud

Law360, Chicago (May 2, 2013, 6:46 PM EDT) -- A one-time principal of a real estate investment operation was sentenced in Illinois federal court Thursday to 7 1/2 years in prison for a fraud that allegedly caused $18 million in investor losses, just days after his former business partner received a 10-year sentence for the scheme.

Frank Constant, 59, had asked U.S. District Judge Gary Feinerman for a sentence of four years on the single count of wire fraud he copped to under a plea deal in February 2012. In that agreement, Constant admitted to...
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