The United States Attorney's Office for the Northern District of California announced that David Georgeson was convicted by a federal jury yesterday of one count of conspiracy to commit mail fraud in violation of Title 18, United States Code, Section 371.  The conviction followed a two week jury trial before U.S. District Court Judge Charles R. Breyer.

Mr. Georgeson, 45, of Squaw Valley, California, was indicted by a federal grand jury on July 10, 2002.  He was charged with conspiring with his former business partner to defraud individuals who had invested in their various real estate ventures of approximately $742,000.  The government alleged that Mr. Georgeson and his partner conspired to defraud investors when they sold a property in Colorado, including one investor who had obtained a civil judgment against them barring them from disbursing proceeds from the sale.  The evidence at trial established, among other things, that Mr. Georgeson diverted proceeds from the sale by executing a fraudulent deed of trust.  Mr. Georgeson and his partner then lost the funds in an unrelated investment.  The jury, after deliberating for one day, convicted the defendant of conspiring to commit mail fraud.

The maximum statutory penalty for the charge is five years imprisonment and a fine of $250,000, plus restitution.  However, the actual sentence  will be dictated by the Federal Sentencing Guidelines, which take into account a number of factors, and will be imposed in the discretion of he Court.  The sentencing of Mr. Georgeson is scheduled for May 12, 2004  before Judge Charles R. Breyer in San Francisco.

The conviction is the result of an investigation by the Federal Bureau of Investigation.  Susan E. Badger is the Assistant U.S. Attorney who prosecuted the case with the assistance of Robin Barber.

All press inquiries to the U.S. Attorney's Office should be directed to Assistant U.S. Attorney Matthew J. Jacobs at (415) 436-7181.