A former Bonifay businessman could be facing another 20 years in prison.
A Holmes County circuit court jury convicted 52-year-old David Nesbitt for charges related to a security fraud scheme. The six-woman jury deliberated only an hour before rendering a verdict.
Nesbitt sold investment opportunities is his company, Ameriware, to his friends and neighbors in Holmes County. He claimed he had $19 million in sales, but apparently there were no sales or contracts.
The investors lost more than $350,000.
The jury convicted Nesbitt of sale of unregistered securities, sale of securities by an unregistered agent, making false statements in the sale of securities and grand theft.
He has spent the last 18 months in a federal prison for charges of possession of explosives.
He’ll be sentenced on the Holmes County fraud charges on January 18.