An expose of bad businesses and their unethical practices

Daniel W. Heath was convicted today on almost 250 counts of theft and securities fraud. Today’s action was part of an ongoing trial in a fraud case totaling $190 million, a California case which has attracted significant nationwide attention. The trial is being held in the Superior Court in Riverside County. The verdicts on an additional 150 counts will be returned in a few days.

The trial has lasted three months, with an additional one month consumed by jury deliberations. Daniel Heath is just on of the defendants. The others include his father John Heath and business associate Denis O’Brien. The other defendants face only about sixty of the over 400 counts.

The defendants are being slowly convicted of defrauding approximately 1,600 people out of pearly $190 million. The illegal activity was a Ponzi scheme, in which new investor money is used to pay off earlier investors. It is expected that the defendants will receive significant jail time, between 30 and 100 years. Perhaps this will help convince others that Bad Business does not really pay.