SAN FRANCISCO (AP) – A San Francisco man has been sentenced to five years in prison for an investment scam involving foreclosed properties.
The San Francisco Chronicle (bit.ly/RcvqiL) says 56-year-old Keith Wilson told investors that his Tribecca Properties and Lone Cedar Corp. bought foreclosed properties in Alameda, Contra Costa and Santa Clara counties and resold them for profit.
Wilson pleaded guilty last month to the $347,000 scam.
District Attorney George Gascon says Wilson used most of the money on shopping sprees and political contributions.
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Information from: San Francisco Chronicle, http://www.sfgate.com
Article source: http://www.ksby.com/news/bay-area-man-facing-jail-after-real-estate-scam/