Portland -
A Connecticut man has been convicted in Maine of wire fraud for a real estate scheme.
Federal prosecutors say 65-year-old Peter DiRosa of Manchester, Conn., and an associate solicited $600,000 from an elderly retiree in Kennebunk and said the money would be used as collateral for a loan to buy land in Hungary. Court records say after the money was sent to Hungary, $225,000 was transferred to bank account under DiRosa's control.
The U.S. Attorney's office says DiRosa and his associate also lied about individuals allegedly affiliated with the real estate venture and about its projected financial success.
DiRosa was convicted on Wednesday after a three day trial. He faces up to 20 years in prison, a maximum fine of $250,000 as well as paying back the money.
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