Chattanooga: Jury finds pair guilty of fraud, money laundering in land deal

Chattanooga: Jury finds pair guilty of fraud, money laundering in land deal

April 23rd, 2013 by Todd South in Local - Breaking News

Photo by Laura McNutt/Times Free Press.

A federal jury found two Marion County men guilty of fraud and money laundering in a $45 million land development in Dade County, Ga.

Joshua Dobson, 35, and Paul Gott, III, 40, will face sentencing on wire fraud, money laundering and conspiracy convictions on Aug. 8 before U.S. District Judge Curtis Collier.

The fraud scheme enticed buyers to sign their credit for land plots at The Preserve near Rising Fawn, Ga. Dobson's company, Southern Group, would then pay the down payment and monthly mortgage payments and buy back the land after three years.

But payments stopped within a year and buyers were left responsible. Some declared bankruptcy.

The trial has lasted more than two weeks. Jurors deliberated all day Monday and reached a verdict at 11 a.m. today.

For more see tomorrow's Times Free Press.