Omnibuild executives plead guilty to lesser charges in XI fraud scheme

Omnibuild’s former co-CEO John Mingione pleaded guilty to one criminal charge, springing from an alleged $86 million fraud scheme at HFZ Capital Group’s luxury condo projects.  Mingione and Kevin Stewart, an accountant for the construction firm, reached a deal with prosecutors to avoid trial, both entering guilty pleas during a Monday hearing in New York’s criminal court in Lower Manhattan. Neither will face jail time. Mingione pleaded guilty to one count of criminal conspiracy. He is required to pay a $20,000 fine and complete 100 hours of community service. If he completes these tasks, his felony plea will be reduced […] This article originally appeared on The Real Deal. Click here to read the full story.