Late Thursday, following three days of deliberations, the federal jury found Robert Newell guilty on 29 of the 30 counts he was facing.
Business manager James Parisi Junior was found guilty on 11 of the 21 counts against him.
the charges all stemmed from a four year period when the federal government claims that the two men misused nearly $1.7 million.
A sentencing date has not been sent. Both men are free on bail until that point.