http://www.oregonlive.com/newsflash/regional/index.ssf?/base/news-9/1107441161134640.xml&storylist=orlocalExcerpt:
ST. LOUIS (AP) — A former Oregon congressman and another man defrauded investors in the St. Louis area of more than $2 million, a jury has ruled.
Jurors in U.S. District Court in St. Louis ordered former Rep. Wester Cooley and businessman George Tannous to pay $2.2 million, the St. Louis Post-Dispatch reported Thursday. The trial lasted eight days.
The jury on Wednesday ruled the men, along with an associate who used the named John Montgomery, defrauded investors here by telling them that online auction giant eBay.com was on the verge of buying their startup company, BidBay.com.
Plaintiffs said the men conspired to indicate eBay's interest in BidBay. In fact, federal regulators had blocked BidBay from selling its shares to the public, and there were no plans for eBay to buy the company, plantiffs attorney Francis "Bud" Pennington III said in closing statements Tuesday.
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