Michael Scripps, 36, who lives in a Detroit suburb, spent the money on cars, jewelry and women, including a stripper and porn star, according to testimony at the two-week trial in Philadelphia. He faces more than seven years in prison at sentencing.
His mother, Melissa Scripps, claimed she received $11 million from the 1980s-era sale of some family holdings.
Her son had a six-figure trust fund, along with a $3,900 monthly stipend she provided, she said. Yet he persuaded her to steer money to his friend, a financial adviser in the Philadelphia suburbs, then proceeded to raid the accounts, she said.
"I don't want anyone else to go through what we've been through as a family," Melissa Scripps testified.
The E.W. Scripps family owns newspapers and television stations, and it is the name behind Scripps College and the Scripps Oceanography Institution.
Melissa Scripps, 62, acknowledged that she has gone through much of the fortune. She spent more than $1 million on family cruises, flew her dogs to her second home on St. Maarten, and purchased two of Princess Diana's dresses and a Napoleonic tiara. She said she smokes marijuana daily and has been married four times.
"Michael thought his mom was spending too much money, she was spending his inheritance," Assistant U.S. Attorney Linwood C. Wright said Wednesday in closing arguments.
U.S. District Judge Legrome D. Davis reminded jurors that they had to decide if a crime occurred, not if people had "squandered, in a profound way, their lives."
The 1980s sale was valued at more than $700 million. The defense maintained that Melissa Scripps received more than $100 million.
Michael Scripps did not testify, but his lawyer argued that he had his mother's permission to use whatever funds he needed.
After the verdict, the judge denied a defense bid to have Scripps remain free on bail until his July 15 sentencing.
"I have absolutely no comfort with how your client behaved," Davis said.