On Friday, a former NYPD sergeant was convicted of real estate fraud and sentenced to almost five years in prison. The ex-cop, John Monahan, was also ordered to forfeit $4.7 million, which he collected from 94 investors between October 2008 and February 2009. He apparently told them that he was developing property in the Dominican Republic, but instead misappropriated the funds and never built the project. [CBS via TRD]
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