August 20, 2014

DBSI Update: D. Swenson Gets 20 Years

Filed under: Probable Cause — Tags: — Bill @ 4:27 pm

DBSIIn March and April OpenCdA put up several posts concerning the DBSI federal securities fraud trial.  The DBSI fraud resulted in millions of dollars in losses to victims nationwide.

Today, Idaho Federal District Court Judge Lynn Winmill sentenced former DBSI president Douglas Swenson to 20 years in federal prison for his role in defrauding investors in the defunct Meridian property management company.  The details of the sentencing are in the Idaho Statesman’s online article headlined  UPDATE:  Former DBSI president to serve 20 years for defrauding investors.

The article also reports that one of Swenson’s co-conspirators, former DBSI legal counsel Mark Ellison, will be sentenced later this afternoon.

ADDENDUM at 7:07 P.M.:  Attorney Ellison got five years.

1 Comment

  1. Thanks for the update. Ellison definitely lucked out, but I am sure he will keep busy practicing his new stint as a “jailhouse lawyer” – he will most likely have plenty of business of some sort.

    Comment by Stebbijo — August 22, 2014 @ 5:44 pm

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