An eight-woman, four-man federal jury in Richmond today convicted Edward Hugh Okun of 23 charges related to a $126 million scam that victimized hundreds of people across the country.
As the verdict on each charge was read, some of the victims in attendence cried softly. At one point Okun, who is facing a maximum of 400 years when sentenced in August, appeared to wipe tears from his face with a handkerchief.
He was indicted last summer on 27 counts of conspiracy, wire and mail fraud, money laundering, currency smuggling and making a false statement. Four of the charges were either withdrawn or dismissed before being considered by the jury.
Okun, of Miami, was the owner of the now defunct, Richmond area Investment Properties of America and The 1031 Tax Group used in the fraud.
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