Industry News

Florida man convicted of selling overpriced swampland

Lots were worth only one-tenth of amount charged

A Florida man was convicted yesterday of charges related to a scheme in which he sold swampland to several Miami residents for vastly inflated amounts in the 1980s and 1990s, officials said. Dudley Cohn, 74, of Hernando, Fla., was convicted of one count of organized scheme to defraud, a first-degree felony, by a Miami-Dade jury after a two-week trial, Florida Attorney General Charlie Crist's office said today. In the late 1980s, Cohn, 74, sold vacant land to 13 individuals in an area known as the East Everglades, officials said. Cohn charged the victims $15,000 for the 1.25-acre lots that were later appraised by the federal government as being worth about one-tenth of that amount, Crist's office said. The victims testified that Cohn misled them by claiming the land was suitable for building and that roads would be built to their property, officials said. Cohn did not disclose that the County had determined that no roads would be built and the land was unsuitable for development, acco...