The New Mexico Regulation and Licensing Department says a jury in Santa Fe has convicted a former homebuilder of nine counts of fraud and embezzlement.
A judge ordered 71-year-old William Kalinowski to be taken into custody immediately Thursday.
Kalinowski now awaits sentencing on convictions that carry a maximum of 81 years in prison and more than $80,000 in fines.
Prosecutors say Kalinowski abruptly closed his business in 2008 and left the state, leaving behind a trail of unfinished homes and angry investors whose losses exceeded $3 million.
He was accused of failing to pay contractors, subcontractors, tradesmen and other project employees.
Prosecutors say Kalinowski continued to siphon off construction funds for personal gain.
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.