Portland, Oregon: Federal government prosecutors soon are going to ask for a 15-year penitentiary sentence with regard to the individual considered to be the mastermind associated with the state’s greatest investor-fraud.
Jon Harder plead guilty in January 2015 to a single felony count of mail fraud and one felony count of money laundering.
Harder had been the previous CEO of Sunwest Management Inc. In accordance with federal government detectives, Harder managed a network of firms which purchased, constructed, as well as maintained a broad variety of senior living facilities.
Harder mentioned that beginning in late 2007 through February 2008, he told lies to investors to obtain more than $5 million.
Data indicates Harder assured investors that their funds would certainly go to the specific assisted living facilities. On the other hand, the cash proceeded to go towards paying for Harder’s personal expenditures and aiding an expensive way of life which involved personal planes, six properties as well as luxurious residences and also getaways.
Government prosecutors claim Harder defrauded in excess of 1,000 investors beyond roughly $130 million, producing the particular case essentially the most significant investor shams criminal prosecution in Oregon history.
Prosecutors will be seeking a 15-year prison verdict. Within a lengthy sentencing memorandum, authorities asserts Harder was motivated by greed and also the desire to become a successful man.
The sentencing begins Monday inside U.S. District Court in downtown Portland. A few months ago, lawyers met for three-weeks for the initial step regarding Harder’s sentencing. Part Two will be planned to last 2 days.