By JORDAN WILIAMS
Joon H. Kim, the Acting United States Attorney for the Southern District of New York, has announced that William Cosme, was found guilty in Manhattan federal court in connection with a scheme to defraud a Christian missionary school in South Korea of $5.5 million dollars. Cosme was convicted on both counts with which he was charged following a one-week trial before U.S. District Judge Loretta A. Preska.
“As a unanimous jury swiftly concluded after trial, William Cosme duped and defrauded a South Korean international school out of $5.5 million, money the school needed to carry out its mission of educating children. Cosme then took this stolen money and spent it lavishly on himself, including on a Lamborghini, a Ferrari, and a Cadillac Escalade, not to mention a 110-day gambling spree in Las Vegas. Cosme now faces time in a federal prison for his brazen crimes,” said Acting Manhattan U.S. Attorney Joon H. Kim.
Cosme faces a minimum sentence of two years in prison for his conviction for aggravated identity theft, and a maximum sentence of 20 years in prison for his wire fraud conviction. He also faces a maximum term of three years of supervised release and a fine of the greatest of $250,000, or twice the gross pecuniary gain derived from the offense or twice the gross pecuniary loss to the victim.
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