Texas business man due in court for $100 million fraud scheme - NBC12 - Richmond, VA News

Texas business man due in court for $100 million fraud scheme

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RICHMOND, VA (WWBT) -

A former Texas businessman convicted in a $100 million fraud scheme will be in a Richmond courtroom Thursday.

Adley Abdulwahab is expected to find out whether any time will be taken off of his 60-year prison sentence. In April, a federal appeals court reversed five of his convictions and ordered a new sentencing.

He was one of the executives for a group of companies that used investor funds to buy life insurance policies at less than face value. There are reports of about 800 victims in 36 states and Canada. 

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