Michael E. Conner, a 56-year-old man from Lake George, New York, has been convicted of defrauding investors and failing to file tax returns. The verdict was delivered following an eight-day trial overseen by United States District Judge Mae A. D’Agostino.
United States Attorney John A. Sarcone III and Harry Chavis, Acting Special Agent in Charge of the IRS-CI's New York Field Office, announced the jury's decision. Conner was found guilty of 22 counts of wire fraud and two counts of failing to file tax returns. He was acquitted on one count of wire fraud and two counts of failing to file tax returns for the years 2018 and 2019.
The evidence presented during the trial demonstrated that Conner, who is an inventor with patents on various household products, started convincing people to invest in his inventions in 2008. These investments were intended to finance the marketing and sale of his patents. However, by 2020 and 2021, while residing in Warren County, New York, Conner misled lenders into providing funds under the pretense of business-related needs, which he instead used for personal expenses.
Despite receiving approximately $6 million since 2008 for alleged patent sales, Conner has not sold any patents nor earned revenue from his inventions. His victims included individuals from Virginia, North Carolina, and Warren County. During 2020 and 2021, Conner secured over $136,000 and $257,000, respectively, in loans while presenting himself as a flourishing entrepreneur. The jury determined that Conner had no intention of repaying these loans and deliberately failed to file tax returns for the income perceived from these loans.
Following the verdict, Conner was detained. He awaits sentencing scheduled for August 14, 2025. For the wire fraud convictions, Conner could receive a prison sentence of up to 20 years, along with a fine of up to $250,000 and a three-year period of supervised release. For the tax-related misdemeanors, he faces up to one year in jail and a fine of up to $100,000.
The case was investigated by IRS-CI, with Assistant U.S. Attorneys Michael Barnett and Mikayla Espinosa leading the prosecution.