A Glendale man will serve more than four years in a federal prison for his role scamming investors in Valley medical facilities, while one of his associates from Surprise will serve a year and a half. The scheme also involved several other men, two of whom are scheduled to be sentenced on May 4, as well as a former CBS Radio executive from Texas.
The men are:
If you like this story, consider signing up for our email newsletters.
SHOW ME HOW
You have successfully signed up for your selected newsletter(s) - please keep an eye on your mailbox, we're movin' in!
*Paul Woodcock of Glendale
*Milton Guenther of Surprise
*David Goodfarb of Paradise Valley
*Richard Ross of Scottsdale
*Colin McHale of Scottsdale
*James Bonebrake of Cave Creek
*Brian Ongaro of Frisco, Texas
*Raymond Marshall of Frisco
*Mike Ibler of Sweethome, Oregon
In a con worthy of a movie, except for the lack of a surprise ending, the group opened several respiratory and physical therapy centers in the Valley, selling investors on the idea that the business -- CORF Licensing Services -- was growing like crazy. The scheme's main players would hire smooth-talkers like Ongaro, the former radio exec, to exaggerate the franchise's potential to the investors. Ongaro reportedly took in a cool $750,000 for his troubles.
All told, the con-men brought in $40 million from about 300 investors, says the U.S. Attorney's Office in Arizona. A tip from someone on the inside brought the operation down.