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Sunday Headlines
11:24 am
Sun March 2, 2014

Jury Convicts Boone Man In $25M Metals Scam

A Florida jury has convicted a North Carolina man of operating fraudulent precious metals investment businesses that fleeced investors of 25 million dollars. The jury found 54-year-old Arthur John Schlecht of Boone guilty Thursday of conspiracy and wire fraud charges. He faces a maximum 40-year prison sentence plus fines and restitution. Prosecutors say there were hundreds of victims. Four other defendants pleaded guilty. Schlecht's companies offered people the chance to invest in gold, silver, platinum and palladium bullion that would be stored in vaults for them.

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