Jury deliberating in $300M vacation rental fraud case

MIAMI (AP) — A federal jury in Miami has begun deliberations in the trial of a married couple accused of orchestrating a $300 million vacation rental fraud scheme.

Jurors on Tuesday began debating the fate of Fred Davis “Dave” Clark Jr., former president of now-defunct Cay Clubs Resorts and Marinas, and Cristal Clark, a top sales agent.

They are accused of defrauding banks and about 1,400 individual investors through a series of misleading marketing materials and false statements.

The Clarks face potentially decades in prison if convicted. The trial began July 8.

Dave Clark’s defense was that the company’s problems were caused by the financial recession, not criminal acts. Cristal Clark, meanwhile, contended that she relied on her husband and his financial and legal advisers.

WNCT-TV 9 On Your Side provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s