SAN FRANCISCO -- A businessman on the lam following his conviction in a San Francisco real estate fraud case is back in custody.
San Francisco prosecutors say 48-year-old Jay Shah was arrested on Wednesday at a Days Inn in Watsonville.
Shah failed to show up in court when a jury convicted him of grand theft and 12 other felony counts on Sept. 20. A judge then issued a warrant for his arrest.
Prosecutors say Shah and four co-conspirators fraudulently took control of a woman's three luxury San Francisco condominiums, took out loans against the properties and laundered the money through shell companies.
The condos were valued at $5.5 million.
Shah faces more than 35 years in state prison.