SANTA FE, N.M. (AP) - The New Mexico Regulation and Licensing Department says a jury in Santa Fe has convicted a former homebuilder of nine counts of fraud and embezzlement.
A judge ordered 71-year-old William Kalinowski to be taken into custody immediately Thursday.
Kalinowski now awaits sentencing on convictions that carry a maximum of 81 years in prison and more than $80,000 in fines.
Prosecutors say Kalinowski abruptly closed his business in 2008 and left the state, leaving behind a trail of unfinished homes and angry investors whose losses exceeded $3 million.
He was accused of failing to pay contractors, subcontractors, tradesmen and other project employees.
Prosecutors say Kalinowski continued to siphon off construction funds for personal gain.
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