A man convicted of stealing millions of dollars from Coloradans through fraudulent real estate is sentenced in a Denver court.
A Denver judge sentenced William Destro to 20 years in prison for bilking investors out of at least $2.4 million. Denver District Judge Gloria Rivera called Destro a "time thief', saying he not only stole a huge amount of money from the victims, but also stole a portion of their lives.
11 News first brought you this story in May 2001, when Destro and his two accomplices began using the Women's International Investment Network or WIIN, to sell homes to buyers at incredibly inflated prices. In all, Destro may have taken as much as $60 million from Colorado Investors. About $10 million worth of those deals were made in El Paso County.
Prosecutors say Destro convinced people to take out mortgages and give him the loan proceeds. He claimed he would then purchase and maintain homes and sell them later for a profit. Authorities say the money was used for other things.
Destro was convicted on several counts of fraud, including violating the state's organized crime act, theft, and securities fraud. His accomplices were also charged in the case. Nancy Lee Stratton pleaded guilty to one county of securities fraud, and one count of theft. She's due back in court later this month. Mary Beth Allen, has requested her own trial, which is scheduled to begin in September.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.