Jury Convicts 3 Of Cheating Investors Out Of $50M

Law360, New York (July 22, 2008, 12:00 AM EDT) -- A federal jury in San Diego has convicted three defendants named in a U.S. Securities and Exchange Commission action of fraudulently soliciting more than $50 million from investors in a Ponzi scheme that lasted nearly three years.

In the U.S. District Court for the Southern District of California, the SEC announced Friday, defendants Randall T. Treadwell, Ricky D. Sluder and Larry C. Saturday were convicted of felony wire fraud and conspiracy.

A fourth defendant, Arnulfo M. Acosta, pled guilty to felony conspiracy and lying to a...
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