ALBANY -- Three members of a Saratoga County family were convicted of federal crimes Monday in an international investment scheme that preyed on people hoping to secure financing for major development projects.
Ronald Persaud and his ex-wife, Esther, along with their son, Shawn, were convicted of crimes that included money laundering, wire fraud, mail fraud and bankruptcy fraud.
The Persauds and their son, an Albany Law School student, became the target of a multi-state FBI investigation that began more than three years ago after federal authorities received complaints about a "fees for funding" scheme in which investors were fleeced of more than $1.5 million, court records show.
During the nearly monthlong trial federal prosecutors cast the Persauds as polished con artists who used forged documents, overseas shell banks, attorneys and other professionals to pull off their years-long schemes.
Along the way, the family lived lavishly, driving expensive sports cars and buying pricey homes in tony neighborhoods that were purchased with fraudulent loans and money taken from duped investors, according to …
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