BOISE -- A federal jury has convicted a former Idaho retirement trustee on 17 counts of wire fraud for raiding those accounts in a scheme to buy Tamarack Resort.
The jury deliberated for several hours Monday before finding Matthew Hutcheson of Eagle guilty on all counts.
Hutcheson was working as an independent fiduciary when federal prosecutors say he took $5 million from two retirement funds he oversaw. Prosecutors argued that Hutcheson used some of that money to buy expensive vehicles and remodel his home and another portion to buy the mortgage on the resort's golf course.
In closing statements, defense lawyers argued Hutcheson never meant to deceive and had investors' interests at heart.
He faces up to 20 years in prison on each count. Sentencing is set for July 23.