Arizona couple found guilty for taking $5M from investors

TUCSON, Ariz. (KYMA, KECY) - Two Arizonans were found guilty for conspiracy to commit fraud, resulting in the couple defrauding investors out of nearly $5 million.

Michael Feinberg, 73, and Betsy Feinberg, 80, have their sentences scheduled for June 15, 2022.

The couple opened a corporation to gain revenue from investors by presenting false promises throughout Arizona, as presented by evidence in their trial.

The Feinbergs would take the investments and use them on personal non-business expenses such as their home mortgage.