An Albany man is facing fraud and grand larceny charges after state police said he conned two women into putting hundreds of thousands of dollars into a bogus real estate investment.
Troopers said Shawn Hobbs, 42, of Pennsylvania Avenue, told the women he was investing the cash in the Albany real estate market and promised a large return on their money. Troopers said Hobbs bilked $133,500 from the women since August 2003.
Hobbs was charged Wednesday with felony counts of first-degree scheming to defraud and second-degree grand larceny. He was arraigned in Glenville Town Court and released on $20,000 bond to return at a later date.
Troopers said the investigation is ongoing. Anyone with information is urged to contact investigators at 630-1700.
Categories: Uncategorized
