13 arraigned in $19 million Oregon bank fraud case
December 18, 2009
Total Loss:
$19 million
Thirteen people have been arraigned in what prosecutors say is a multimillion-dollar fraud case tied to the collapse of Desert Sun Development, a Bend real estate development company. Prosecutors say the victims list includes Umpqua Bank, Liberty Bank and other out-of-state financial institutions. Together, they lost more than $19 million after lending Desert Sun Development money for commercial and residential projects, some of which were never built.
Source:
AP
Posted in:
Internal Fraud