Conneaut businessman Rueben Schwartz pleaded guilty on Monday in federal court in Cleveland to burning down a shuttered restaurant for $1.1 million in insurance money and helping a drug dealer launder money.
A Conneaut businessman agreed to serve more than four years in prison for burning down a closed restaurant for insurance money and laundering money for a drug dealer.CLEVELAND, Ohio — A Conneaut businessman on Monday agreed to serve more than four years in prison after he admitted to laundering a major drug dealer’s money and burning down a shuttered restaurant for $1.1 million in insurance money.
During the hearing, Schwartz wiped tears from his eyes as he pleaded guilty to charges, including conspiracy to commit arson, wire fraud and mail fraud and conspiring to launder money. Schwartz made small repairs to make it appear he was legitimately rehabbing the building, then had others use a Torpedo-style space heater to burn it down, prosecutors said.
Mahoney in 2021 paid Schwartz $110,000 for a building that used to house the Crispy Biscuit on Park Avenue and another that formerly housed a thrift store, prosecutors said. On official paperwork, the duo said Mahoney actually paid $360,000.
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