Stephen Gibbons, Assistant District Attorney   CONTACT PERSON: 
Paul Colin, Deputy District Attorney
(408) 792-2576    For release on February 17, 2005    FATHER-SON TEAM SENTENCED TO MAXIMUM 27 YEARS, 8 MONTHS FOR RUNNING $73.6 MILLION FRAUDULENT INVESTMENT SCHEME   This morning, February 17, 2005, Santa Clara County Superior Court Judge Rene Navarro sentenced James Edwards, 73, and his son, David Edwards, 49, to state prison for the maximum penalty they faced – 27 years and 8 months. The two men were convicted by a jury on November 17, 2004, of 16 counts of fraudulently selling or offering an investment security, six counts of first-degree burglary, and one count of conspiracy. The counts were based on their leadership roles in running Resource Development International, their version of one of the nation's "Top Ten Scams" – more generally known as a "Prime Bank Note" fraud – and the men's third such activity since 1996. In giving his reasons, Judge Navarro, who presided over the seven-week trial, noted the nationwide scope of the fraud, the amount that the defendants stole ($73.6 million), their years of "stonewalling" authorities, and called th Edwards "evil incarnate."      

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