BANKRUPT BANKER
federal judge in Chicago has sentenced a Libertyville, Ill., man to five years in prison for defrauding approximately 100 victims of more than $9 million in a "Ponzi-type" fraud scheme.
Randall Samborn, a spokesman for the U.S. Attorney's office, says U.S. District Judge Blanche Manning imposed the sentence Thursday on 66-year-old Forrest David Laidley, who owned and operated Forrest Properties, Inc.
Prosecutors say Laidley obtained well in excess of $10 million from investors and financial institutions by fraudulently offering and selling limited partnership interests in a commercial development and short-term, high-interest, guaranteed promissory notes.
Laidley pleaded guilty in February to one count of bank fraud and one count of mail fraud affecting a financial institution.
I invested with the guy and got my money back..Forest your ok in my book. I'll invest with him again when he gets out.