Man faces more than 300 years for $11 million Ponzi scheme
June 30, 2009
In a case billed as one of the largest elder-abuse cases ever handled by the Orange County District Attorney’s Office, Jeffrey Butler, 51, was deemed guilty of 693 counts – the majority of them involving financial elder abuse and the sale of unqualified securities, according to Deputy District Attorney William Overtoom.
The jury deadlocked on another 86 counts – leading Orange County Superior Court Judge James Stotler to declare a mistrial on those charges.
Butler was found not guilty on another 30 counts.
The reading of the verdicts began Monday morning and ended at about noon Tuesday.
Butler’s wife, Peggy Warmuth Butler, 49, was found guilty of four counts of filing false tax returns. She began crying when Stotler said he would allow her to remain free until sentencing for the couple, which is scheduled for Sept. 18.
Jeffrey Butler remains in custody at Orange County Men’s Jail until sentencing.
He was arrested in February 2006 and accused of defrauding senior citizen clients by pretending to help them prepare their wills and trusts.
The trial, which began in November, last almost eight months and included testimony from 92 victims, prosecutors said.
Abridged
SOURCE: OCRegister - Santa Ana,CA,USA
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