Home / Crime and Justice / Austin Man Jailed for $1M University of Austin Fraud
Austin Man Jailed for $1M University of Austin Fraud
26 Oct
Summary
- John Robison received 41 months for wire fraud and money laundering.
- He defrauded an investor of $1 million meant for the University of Austin.
- Robison quickly spent the majority of the $1 million he received.
John Stuart Robison, 63, of Austin, has been sentenced to 41 months in federal prison for a $1 million fraud scheme. He was convicted in July of wire fraud and money laundering.
Robison defrauded an investor by claiming $1 million was for the University of Austin. He falsely assured the investor the money would remain in escrow and presented falsified real estate contracts.
Just one day after receiving the wire transfer, Robison moved $250,000 to his personal account. Within months, he had spent nearly the entire $1 million sum.
In addition to his prison sentence, Robison was ordered to pay $1 million in restitution to the defrauded investor.
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