Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Real Estate Developer Sentenced to 121 Months in Prison
Real Estate Developer Sentenced to 121 Months in Prison in $50 Million Securities Fraud Scheme
WASHINGTON—A commercial real estate developer and mortgage broker was sentenced to serve 121 months in prison today for his role in a $50 million securities fraud scheme.
Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division, U.S. Attorney Laura E. Duffy of the Southern District of California and Special Agent in Charge Douglas G. Price of the FBI’s Phoenix Division made the announcement. U.S. District Judge Cathy Ann Bencivengo of the Southern District of California imposed the sentence.
Bradley Holcom,
57, of Canby, Oregon, previously pleaded guilty to wire fraud in connection with the sale of approximately $50 million worth of promissory notes to more than 150 investors located throughout the United States.
Holcom admitted that he solicited investors to provide funds for the development of raw land for commercial and residential purposes through an investment program he called the Trust Deed Investment Program.
Holcom falsely told investors who purchased notes through the program that they would receive a lien on a specific piece of property, and that the lien would be in first position.
Holcom admitted, however, that he never ... more

__________________________________________________
Are you on The Rain? Grow Your Network!