SECURITIES

Beverly Hills Man Guilty of Fraud: Gary Lefkowitz, a real estate syndicator, has been convicted by a federal grand jury in Minneapolis of defrauding the Internal Revenue Service and 7,000 investors in low-income housing projects nationwide. Federal authorities said Lefkowitz, through his Culver City-based Citi Equity Group, masterminded an elaborate $100-million scheme over six years involving the selling of partnerships in low-income housing projects. But Lefkowitz diverted some partnership funds to pay for cars, clothing, jewelry and art and homes in Beverly Hills and Beaver Creek, Colo. Lefkowitz, who was convicted Friday of 47 charges, faces a prison sentence of 10 years to life. He had pleaded innocent.