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BANKRUPT BANKER

Showing posts with label Forrest David Laidley. Show all posts
Showing posts with label Forrest David Laidley. Show all posts

Forrest David Laidley, who owned and operated Forrest Properties, Inc.

Posted by Fraser Trevor Sunday, 17 October 2010

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.

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