Jury selection under way in Gold Country Lenders fraud trial | TheUnion.com
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Jury selection under way in Gold Country Lenders fraud trial

Jury selection in the Gold Country Lenders trial got under way Tuesday, and is expected to last through Thursday. The fraud case against the company’s CEO, Phil Lester, and CFO, Susan Laferte, has been slowly making its way through the court system since their September 2012 arrest.

Opening statements in the trial, which could last longer than eight weeks, are expected April 14 in Department 4 of Nevada County Superior Court. The case is being prosecuted by California Deputy Attorney General Randy Mailman, and the co-defendants are being represented by Nevada City attorney Greg Klein and El Dorado Hills attorney Mary Beth Acton, who were appointed by the court.

The case alleges that Lester and Laferte defrauded investors of millions of dollars over a period of eight years; they each face charges of using a scheme to defraud, offering securities for sale by means of an untrue statement or omission of a material fact, and fraud from an elder adult.



The state has calculated the maximum potential sentence for the defendants at 73 years in prison.

To contact City Editor Liz Kellar, email lkellar@theunion.com or call 530-477-4229.


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