A man convicted in September of more than a dozen felony counts stemming from a complicated scam at San Francisco's One Rincon Hill luxury residential tower was sentenced today to 20 years in state prison.
Jay Shah, 48, who was convicted along with co-defendant Winston Lum, was ordered this morning by San Francisco Superior Court Judge Charlene Kieselbach to serve the 20-year term and pay a fine of $14.1 million -- twice the amount taken in the scam.
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The Dark Prince’s elusive co-conspirator has been brought out of the shadows.
Two weeks ago, high-rolling 48-year-old Jay Shah vanished before his guilty verdict was handed down in a big-bucks San Francisco real estate scam trial that involved Kaushal Niroula, the con man famously known as the Dark Prince.
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A high-rolling con artist who faces 35 years in prison for a San Francisco real estate scam is now a fugitive, prosecutors said, after he posted a $1 million bail and then apparently disappeared before the guilty verdict in the case was handed down Wednesday.
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When the Moscone Center opened in 1981, Gwenn Craig attended an evening event in the South of Market conference hall, which had been built in what was then a quiet, industrial neighborhood, mostly deserted at night and on weekends.
“So much of the neighborhood was empty,” Craig said. “Everything around it was vacant. You felt like you were going to some sort of distant outpost. People felt a little nervous because it was so deserted.”
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San Francisco prosecutors have charged the owner of a telecommunications company and his lawyer with taking part in a $2.2 million real estate fraud involving three units of the luxury One Rincon Hill condominium tower.
Jay Chandrakant Shah, 45, was arrested by San Francisco police and a host of other authorities at his San Jose ranch Tuesday. Authorities also took attorney Melvin Lee Emerich into custody at the ranch.
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