Updated 09/26/2008 10:22 AM
Man accused of scamming two women out of $133K
ALBANY, N.Y. -- An Albany man has been arrested, accused of scamming two women out of a large sum of money during the past five years.
State Police in Princetown say Shawn Hobbs, 42, took the women for over $133,000 in a real estate scam. Hobbs promised the women a big return on their money if they kept investing.
Police made the arrest after an 11-month investigation.
Hobbs was arraigned on charges of first-degree scheme to defraud and second-degree grand larceny. He was released on $20,000 bond.
The investigation is ongoing, and if anyone has any information regarding this case, please call the State Police in Princetown at (518) 630-1700.