Dino Sisneros, of Tucson, was convicted on June 25, 2013 by a federal jury in just 13 minutes, after a 14 day jury trial.
Sisneros was indicted for Wire Fraud and Transactional Money Laundering Greater than $10,000 on January 14, 2013. Sisneros’ trial was just completed on separate federal mortgage fraud.
The most recent federal indictments against Sisneros charged him with executing a real estate investment fraud scheme. The indictment alleged that Sisneros falsely represented to various investors that he would use their money to invest in real estate. The indictment further alleged that Sisneros also claimed that the victims would receive a large return on their investment. Instead of investing the victims’ money in real estate, it was alleged that Sisneros used a large portion of the money for his own personal use. The indictment alleges that five separate victims loaned Sisneros approximately $861,000 to invest in real estate, but Sisneros failed to pay these victims as he had promised in return for their investment.
Sisneros will remain released on all previously imposed conditions of pretrial release. Sentencing has been set for Thursday September 5, 2013 at 9:30 AM
A conviction for Wire Fraud carries a maximum penalty of 20 years imprisonment, and a $250,000 fine for each count. A conviction for Transactional Money Laundering Greater than $10,000 carries a maximum penalty of 10 years imprisonment and a $250,000 fine for each count.