Cedar Rapids man convicted of 46 federal charges - KWWL - Eastern Iowa Breaking News, Weather, Closings

Cedar Rapids man convicted of 46 federal charges after phony ventures

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CEDAR RAPIDS (KWWL) -

A Cedar Rapids man accused of bilking investors out of more than $800,000 in phony gambling and mining ventures has been convicted of 46 federal charges.

The U.S. attorney's office said Donald Washburn was convicted of 28 counts of wire fraud, five counts of money laundering and 13 counts of making false statements to the U.S. Probation Office. A jury returned the verdict on Wednesday in U.S. District Court in Cedar Rapids.

Washburn, who was on supervised release from a prior fraud conviction, faces prison and fines of up to twice the amount of his financial gain, twice the amount of his victims' financial loss or $250,000 for each count. A sentencing date wasn't set.

Prosecutors said Washburn claimed he owned mines and minerals and a casino dice game.

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