A federal jury has convicted a Minnesota man of stealing $2 million from investors to build a RV park which he hoped would bring in money from North Dakota’s oil boom. Ronald David Johnson of Corcoran, Minnesota, has been found guilty on all counts of wire fraud and money laundering.
Johnson fraudulently solicited $2.1 million dollars from his four investors and used the money instead to take vacations, buy vintage cars, run his cattle farm and purchase a 17-acre island.
The court said Johnson’s investment plan was to house oil workers in a large RV warehouse in both North Dakota and Montana. They would share laundry and vending machines in a communal area.
Sentencing will be scheduled later. Read the full story here. —Emily Woodbury
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