Man could face 20 years in jail in fraud case - East Valley Tribune: East Valley Local News

Man could face 20 years in jail in fraud case

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Posted: Thursday, September 25, 2008 6:46 pm | Updated: 11:17 pm, Fri Oct 7, 2011.

A Scottsdale man could be sentenced to up to 20 years in federal prison and fined $250,000 for his involvement in a mail fraud and money laundering scheme that misrepresented financial benefits to those seeking licenses to open health care facilities, the Internal Revenue Service announced Thursday.

Richard Ross, 67, pleaded guilty to felony counts of mail fraud and money laundering on Wednesday, according to the IRS. Ross was one of nine men, including four from Scottsdale, accused of defrauding at least 300 prospective licensees out of $40 million between 2000 to June 2003, and Ross received about $2 million of that, the IRS said. Ross will be sentenced Dec. 8.

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