Brothers who scammed lifesavings from seniors face sentencing

Posted at: 09/12/2013 1:35 PM
Updated at: 09/12/2013 1:37 PM
By: Elizabeth Reed,

SANTA FE -- Two bothers convicted of stealing more than $400,000 in lifesavings from a senior couple in Edgewood, N.M., will learn their sentence on Thursday. 

In April, a Santa Fe jury convicted Michael and Steven Maxwell on 11 felony counts of securities fraud, forgery and fraud.

Both men will be sentenced in district court in Santa Fe at 2 p.m.

According to S.U. Mahesh of the New Mexico Taxation and Revenue Department, the Maxwell brothers befriended the couple through a family member and offered a real estate scheme to develop land in Edgewood.

The couple used their lifesavings and mortgaged their Edgewood home to make the fraudulent investments to the brothers.