Oregon man pleads guilty in $50 million fraud

Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 5/08 2:08 pm

SAN DIEGO (AP) — A real estate developer and mortgage broker has pleaded guilty in California for his role in a $50 million securities scam.

The U.S. attorney's office says Bradley Holcom entered a plea to wire fraud on Thursday in San Diego federal court. He faces up to 20 years in prison.

Prosecutors say the Canby, Oregon, man bilked investors around the country who provided money for development deals.

Holcom acknowledged that he falsely told investors they'd receive liens on the property and could foreclose if he didn't repay them.

Prosecutors say Holcom also sold properties that supposedly were serving as security for investors.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share
0 Comment(s)
Comments: Show | Hide

Here are the most recent story comments.View All

No comments yet!
NEWSCASTS ON DEMAND
WATCH OUR LIVE NEWSCAST

What's On

All content © Copyright 2014 Intermountain West Communications Company. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.
You may also view our Sitemap

Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.