All four defendants in the Buffalo Billion trial have been found guilty on all counts.
The trial went to jury on Wednesday.
Buffalo developer Louis Ciminelli, Syracuse developers Joseph Gerardi and Steven Aiello, and the founder of SUNY Polytechnic, Dr. Alain Kaloyeros were found guilty of wire fraud and conspiracy to commit wire fraud.
Louis Ciminelli’s attorney Paul Shechtman says they are appealing this conviction. Michael Miller, attorney for Alain Kaloyeros, says they will also appeal.
The FBI released the following statement on the verdict on Thursday:
“The FBI Buffalo Office jointly initiated and investigated the Buffalo Billion case that ended with today’s guilty verdicts in New York City,” said Gary Loeffert, Special Agent in Charge of the FBI’s Buffalo Office. “Years of investigative work by FBI Buffalo and Southern District of New York agents and prosecutors has changed the way business is done in western New York and across the state. It is the expectation of the public that officials represent the people when they enter office and not their personal interests.”
