MAN SENTENCED TO PRISON FOR MONEY LAUNDERING AND AGGREAVATED WHITE COLLAR CRIME

FOR IMMEDIATE RELEASE
August 20, 2012

CONTACT: Stephanie Ong Stillman, DA Gascón’s Office, (415) 553-1167
ADA Alex Bastian, DA Gascón’s Office, (415) 553-1931

SAN FRANCISCO, CA – District Attorney George Gascón announced today that Keith Wilson, (age 56), was sentenced to five years state prison for defrauding seven victims for over $347,000 in a money laundering scheme.

“This defendant thought he could use peoples’ hard earned money as his personal piggy bank and get away with it,” said District Attorney George Gascón.” “The District Attorney’s economic crimes unit was specially designed to ensure that this type of greed is dealt with aggressively.”

Keith Wilson has been sentenced to five years in state prison for money laundering and aggravated white collar crime, violating Penal Code sections 186.10 and 186.11. Under realignment, Mr. Wilson is not eligible for local time and will be serving his time in a state prison facility.

According to court testimony, the defendant had formed two corporations called “Tribecca” and “Lone Cedar.” He convinced seven unsuspecting victims to buy shares in his company, misleading them into thinking that his company was purchasing distressed properties and reselling them for a profit. The defendant never invested the money and simply pocketed the funds invested by the victims. Much of the money was spent on shopping sprees, political contributions and expensive restaurants.

Wilson was sentenced in Department 23 today before the Honorable James Collins. John Zahar was the Assistant District Attorney prosecuting the case. SFPD Inspector Sue Bachman was the inspector on the case. Inspector Bachman did a phenomenal job in investigating the case.


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