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

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.

Support Local Journalism

Support Local Journalism

Readers around Grass Valley and Nevada County make The Union’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User