Man Guilty Of Defrauding Cousin Out Of $300,000
A Georgia man was found guilty in a federal Fayetteville courtroom Friday of defrauding his Bentonville cousin out of $300,000.
Rodney Callaway, 68, of Duluth, Ga., was found guilty of 10 counts of wire fraud and one count of mail fraud following a jury trial. Callaway now faces up to 220 years in prison and up to $250,000 in fines, according to U.S. Attorney Conner Eldridge’s office.
After Callaway’s cousin received a settlement from a nursing home, she sought to invest the money. Callaway told her legal representative he was a trustee for a Philippine company and could invest the money at a favorable interest rate, according to the U.S. Attorney’s office.
The representative transferred $300,000 into Callaway’s account, and Callaway kept the money.
Callaway was charged in October following an investigation from the FBI and the Arkansas Securities Department.