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Appeals court in Va. hears Okun $126M fraud case

Edward Hugh Okun, 60, was convicted of 23 counts, including fraud and money laundering. He owned companies that held money from clients seeking to defer capital gains on property sales. Instead of safeguarding their money, however, he spent it to finance a lavish lifestyle and purchase a jet, luxury cars, expensive jewelry and a 131-foot yacht that the named after a woman he married in a $200,000 ceremony in 2005.