A jury convicted a man Monday of conspiring to set fire to his business to collect insurance money.
The U.S. Department of Justice said in July 2015 53-year-old Demetrios Stavrakis of Lutherville-Timonium destroyed his business to file an insurance claim worth more than $21 million. The insurance company paid approximately $15 million.
A portion of the money was transferred to an account in the name of Stavrakis’s wife, which prosecutors say was used to buy luxury cars, a motorcycle and jewelry.
Stavrakis will be be sentenced in January.
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