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Updated Oct 7, 2013 - 8:03 pm

Former Scottsdale CPA is convicted in a fraud case

PHOENIX — A former Scottsdale certified public accountant has been
convicted in a fraud case.

Maricopa County prosecutors said a jury Monday found Danny Wise guilty of 22
counts of theft and eight counts of fraudulent schemes and artifices. Jurors now
are deciding if there are aggravated factors.

Wise was accused of stealing money from his clients between April 2006 and May
2008.

He also was indicted for fraudulently inducing victims to invest $66 million
with false promises of high-yield returns by making short-term, high-interest,
hard-money loans in real estate ventures from June 2005 to December 2008.

Wise allegedly siphoned off about $7 million from his victims for his personal
use.

He was originally scheduled to stand trial in September 2009, but was granted
10 continuances.

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