Former Detroit treasurer convicted in fraud case

DETROIT (AP) - A former Detroit treasurer and two pension officials who served under ex-Mayor Kwame Kilpatrick have been found guilty of conspiracy to commit fraud. The three officials were convicted Monday in a case alleging they accepted bribes and kickbacks in corrupt deals that cost the city's troubled pension funds about $97 million in losses. Former Treasurer Jeffrey Beasley was convicted of conspiracy, two counts of extortion and bribery. He faces up to 20 years in prison for conspiracy, 20 years for extortion and 10 years for bribery. He was acquitted on three extortion counts. Former pension fund lawyer Ronald Zajac and former Police and Fire Retirement System Trustee Paul Stewart were also convicted of conspiracy. Kilpatrick is serving a 28-year prison sentence after a federal jury convicted him last March of several crimes. Published: Wed, Dec 10, 2014