FORT LAUDERDALE, Fla. (AP) — A South Florida businessman has been sentenced to more than 12 years in federal prison for investment fraud involving purported housing projects in Haiti and other developing countries.
U.S. District Judge William Dimitrouleas imposed the sentence Wednesday on 54-year-old Claudio Osorio, who pleaded guilty earlier this year to wire fraud and money laundering conspiracy charges.
Prosecutors say Osorio defrauded investors out of about $40 million in his Innovida Holdings company. Court records show the investors included NBA star Carlos Boozer and former Miami Heat player Alonzo Mourning.
The fraud also included a $10 million federal grant to build 500 low-cost housing units in Haiti after the 2010 earthquake, but the project never got off the ground.