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Jury convicts man of conspiring to set fire to his business

Posted at 5:10 AM, Oct 30, 2019
and last updated 2019-10-30 09:03:53-04

BALTIMORE (AP) — A jury has convicted a man accused of conspiring to set fire to his business so he could collect insurance money.

The U.S. Department of Justice said in a news release that 53-year-old Demetrios Stavrakis of Lutherville-Timonium, was found guilty late Monday of malicious destruction of property by fire, use of fire to commit a federal felony and wire fraud.

Evidence showed that after the fire in July 2015, insurance adjusters submitted claims totaling more than $21 million, and 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 is scheduled to be sentenced in January.