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Spokane developer sentenced for fraud charges

Published On: Jun 10 2014 02:05:45 AM CDT
Updated On: Jun 10 2014 02:16:22 AM CDT

Spokane developer Greg Jeffreys was sentenced Monday for fraud charges dating back to 2006. KXLY4's John Hendricks reports.

Spokane developer Greg Jeffreys was sentenced Monday for fraud charges dating back to 2006.

Jeffrey's pleaded guilty in November 2013 to multiple charges including wire fraud, bank fraud and conspiracy to commit felony criminal contempt.

Jeffrey's operated several fraudulent schemes in and around Spokane and Las Vegas, Nevada. One of the most notable, defaulting on a $2.6 million loan as part owner of the Ridpath Hotel.

In a statement, US Attorney Micheal Ormsby said, “Greg Jeffrey's became a notorious fraudster in the Spokane area and elsewhere. I commend the FBI and members of my office for their dedication and tenacity in unraveling Jeffreys' fraudulent schemes.”

Jeffrey's was sentenced to eight years in federal prison followed by five years surveillance. He was also ordered to pay $9.3 million in restitution.

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