The accused was charged with 27 counts of fraud over $5,000 and obtaining money by false pretences.
He solicited $30,000 loans from multiple lenders for a real estate development, falsely promising them a security interest in specific townhouse units.
The accused misappropriated the funds to pay himself a salary and cover personal expenses, and the development failed, resulting in the loss of the lenders' investments.
The court found the accused guilty on all counts, concluding he knowingly made false representations and committed dishonest acts that put the lenders' economic interests at risk.
