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Bond set for Waukesha County man accused of arson, fraud

WAUKESHA, WI (WTAQ) - A $200,000 cash bond has been set for a Waukesha County man accused of burning down a home three years after starting a large casino project in Macedonia.

58-year-old Joe Islami of Oconomowoc appeared in court Friday on felony counts of arson, false swearing, and two fraud-related counts. He's due back in a Waukesha courtroom July 25th for a preliminary hearing.

Islami was arrested Thursday, after he allegedly burned down a $1.5 million lakeside home at Lac La Belle in Waukesha County.

The criminal complaint said an insurance company paid off the home's $275,000 mortgage, plus living expenses after that.

It was mentioned in a loan application with an Oconomowoc bank for a nearly $9 million hotel and casino project Islami was working on in Macedonia.

Investigators said the casino has not been completed. Sheriff's officials said an investigation continues, and more charges are possible.

(Story courtesy of Wheeler News Service)