Claudio Osorio Arrested On Fraud Charges Over Innovida Haiti Housing Scam
MIAMI, Dec 7 (Reuters) - A Miami businessman once named "Entrepreneur of the Year" by tax and consulting firm Ernst & Young was arrested on Friday and accused of leading a $40 million investment fraud linked to a company he owned that promoted a cutting-edge design to build low-cost houses.
Claudio Osorio, 54, the former president of InnoVida Holdings, and the firm's former chief financial officer were indicted on two counts of wire fraud and one count of major fraud, among other charges, the U.S. Attorney's Office in Miami said in a statement.
They also face fraud charges by the U.S. Securities and Exchange Commission for possible violations of federal securities laws.
Osorio's arrest marks a dramatic fall from grace for a prominent and politically connected businessman whose now defunct company at one point claimed Jeb Bush, Florida's former governor, among its board of directors, as well as former presidential candidate Gen. Wesley Clark.
More at: http://www.huffingtonpost.com/2012/12/07/claudio-osorio-fraud-charges-jeb-bush-innovida_n_2262717.html
