Salesman Admits to Casino Renovation Conspiracy
29 March 2006
Richard Hill Gavzie, a salesman from Coronado, New Mexico, who has co-crafted a scheme involving the purchase and renovation of a Las Vegas casino, recently pleaded guilty to conspiracy to commit wire fraud. Gavzie confessed that he intentionally misled investors regarding his crime partner Vladislav Zubkis and the enterprises in which he invested their money and the status of the future casino project.
Several months ago, Zubkis, was indicted on 36 criminal counts, charging him with mail fraud, wire fraud, and money laundering. According to the indictment, Zubkis defrauded investors of over $1.8 million in two schemes, one associated with the construction of a storage facility, and the other associated with the renovation of a Las Vegas casino.
Assistant U.S. Attorney Sanjay Bhandari was reported as saying that investors were led to believe that Zubkis and his affiliated company, San Diego Properties, L.P., were highly experienced in casino renovation and real estate development. Reportedly, Gavzie also admitted that he and his co-conspirators beguiled investors by making them believe that the project would generate rapid returns. Gavzie's sentencing is scheduled for June 23rd.
Source: Authorized Online Casinos News Staff
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