The e-biofuel company was running a scam where it used regular oil and sold it under the assumption of being biofuel.
Paul Bateman apologized in court to Dr. Arthur Sumrall, who invested $1.7 million in a supposed ethanol project backed by the Russell Foundation.
The partnership aims to reduce unemployment insurance fraud.
The jury found the financier guilty on all 12 counts of conspiracy to commit fraud, wire fraud and securities fraud.
The indictment accuses Van Netta of preparing and submitting false documents to banks to obtain fraudulent loans for airplanes, yachts, and real estate.
The courtroom portion of the trial concluded almost two weeks earlier than expected.
The Secretary of State’s office is warning people about organizations that try to raise money for their businesses online.
Opening arguments are set to begin Monday. The trial is expected to last up to four weeks.
The consumer protection group is a part of President Barack Obama’s Financial Fraud Enforcement Task Force.
A hedge fund manager pleaded guilty to defrauding people of $7 million.