Idaho man charged with wire fraud over 2 fictitious ethanol plants

In Idaho, a Spokane man must repay nearly $1.5 million and could face up to five years in prison after pleading guilty to a fraudulent ethanol investment scheme. Charged with seven counts of wire fraud, Robert J. Braun convinced 50 individuals to invest up to $10,000 in two fictitious ethanol plants, one in Medical Lake and another in Airway Heights. Braun promised returns of up to 700 percent, but instead spent the money on groceries, restaurants and his women’s shoe store in Spokane.