Thirteen Defendants Charged in $19 Million Bank Fraud
November 23, 2009
Total Loss:
$19 million
A federal grand jury sitting in Eugene, Oregon, yesterday returned indictments against 13 individuals on a variety of mortgage and loan fraud charges arising out of the collapse of Desert Sun Development (DSD), a company previously headquartered in Bend, Oregon. From 2004 through 2008, DSD built commercial buildings and residential housing throughout Central Oregon. According to the indictments, DSD principals and other defendants caused financial institutions to lose more than $19 million. In total, five separate indictments were returned. Arraignments of all defendants are scheduled for December 16, 2009, before the Honorable Magistrate Judge Thomas Coffin in Eugene.
Source:
FBI
Posted in:
Internal Fraud