Loan task force gets jury conviction
LAS VEGAS (AP) – A prosecutor says a federal jury in Las Vegas has found a 68-year-old California man guilty in a fraud scheme involving straw buyers and mortgage applications.
U.S. Attorney Daniel Bogden said former United Technologists chief Calway William Cauley is due for sentencing May 17 following his conviction Friday on two conspiracy counts and three mail and bank fraud charges. He could face decades in prison.
Bogden says Cauley became the first defendant found guilty at trial since the formation of a Southern Nevada Mortgage Fraud Task Force in 2008.
Co-defendants William Ervin, Ladon McClellan, Joyce Wilturner and Truemeatra Warner pleaded guilty in the case.