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USA v. Swenson et al

  1. June 05, 2020

    COVID-19 Release For DBSI's Ex-GC In Prison Bureau's Hands

    DBSI's 71-year-old former corporate general counsel serving a five-year prison sentence for his role in a Ponzi scheme disguised as a real estate company will have to wait and see if the Bureau of Prisons finalizes its agreement to release him to home confinement amid the pandemic, a federal judge in Idaho said Thursday.

  2. December 16, 2014

    Fifth DBSI Exec Sentenced Over $150M Scheme

    Real estate company DBSI Inc. on Monday saw a fifth executive sentenced to serve time in connection with the $150 million fraud allegedly perpetrated by the bankrupt company, weeks after its former president was banned from the U.S. Securities and Exchange Commission.

  3. August 21, 2014

    Ex-DBSI President Gets 20 Years For Ponzi-Like Fraud

    The former president of DBSI Inc. was sentenced in Idaho federal court to 20 years in prison for his role in running a Ponzi-like scheme through the bankrupt real estate firm, while the firm's ex-general counsel was handed a five-year sentence and two other former DBSI executives received three-year sentences, prosecutors said Thursday.

  4. August 18, 2014

    No Acquittal For Ex-DBSI Executives In Ponzi Scheme Suit

    An Idaho federal judge on Monday refused to toss the jury verdicts against four former DBSI Inc. executives convicted of running a Ponzi-like scheme through the bankrupt real estate firm, or grant them a new trial, ruling that the evidence supported the verdicts.

  5. August 14, 2014

    US Says Ex-DBSI Boss Should Spend Rest Of Life In Prison

    The federal government said Wednesday that Douglas L. Swenson, former president of bankrupt real estate company DBSI Inc., should be sentenced to a term that would amount to life in prison after being convicted in what they called the largest fraud in the history of the District of Idaho.

  6. June 20, 2014

    Judge Won't Strike Agent's Testimony In $169M Fraud Suit

    The government won't lose the testimony of a witness in its $169 million fraud case against the former president of bankrupt real estate company DBSI Inc. accused of participating in a Ponzi scheme, according to a ruling in Idaho federal court Friday that found the government's failure to produce notes from the testimony was a "simple oversight."

  7. June 09, 2014

    Ex-DBSI Prez Says Evidence For $169M Fraud 'Insufficient'

    The former president of bankrupt real estate firm DBSI Inc. asked an Idaho federal judge Monday to dismiss his convictions for defrauding investors of $169 million, saying the evidence used to obtain the guilty verdicts was "simply insufficient."

  8. June 04, 2014

    Ex-DBSI Exec Can't Retrieve Assets Despite Dropped Charges

    An Idaho federal judge on Wednesday denied a request by Douglas L. Swenson, the former president of bankrupt real estate firm DBSI Inc., to recover funds seized during his trial for defrauding investors of $169 million, instead granting the government's motion to freeze assets held by Swenson and his wife totaling $1.47 million.

  9. April 23, 2014

    Ex-DBSI Execs Say Jurors 'Misled' Amid Acquittal Push

    Four former executives convicted of running a Ponzi-like scheme through bankrupt real estate firm DBSI Inc. on Tuesday asked an Idaho federal court to toss the verdicts against them or grant a new trial, saying prosecutor missteps tainted the jury's decision.

  10. April 14, 2014

    Ex-DBSI Execs Guilty Of Fraud In Ponzi Scheme, Jury Finds

    An Idaho federal jury on Monday found the former top brass of bankrupt real estate firm DBSI Inc. guilty on dozens of fraud charges, following accusations they were running a Ponzi scheme under the guise of an investment company supposedly worth $105 million.

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