Three telemarketers could be on their way to jail following their conviction last week on multiple counts of mail fraud, wire fraud, securities fraud and money laundering.
A federal jury in Palm Beach, FL convicted Marc Shiner and Leon Swichkow of Baca Raton, and Timothy Wetherald, of Denver, according to the office of R. Alexander Acosta, U.S. Attorney for the Southern District of Florida.
They face a maximum of 20 years in prison for each count of mail and wire fraud when they are sentenced on Feb. 13, 2009, Acosta’s office said.
According to the AG’s staff, the defendants sold limited liability partnerships for local telephone companies that competed with Qwest Communications. But they made false statements, and withheld information on their “negative regulatory and criminal histories,” Acosta’s staff said without specifying individual defendants.
More than 270 investors lost a total of $8 million.
The investigation was conducted by he Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorneys Roger H. Stefin and Dwayne E. Williams.
