December 27, 2013
Before the crash in 2008, a Washington man refinanced his commercial real estate property that was 90% occupied.
Well, that’s what he told Umpqua Bank. Turns out the building was “largely vacant.”
The bank lost $2.2 million when it foreclosed.
The court ordered our perp to pay $2.7 million in restitution to the bank, and forfeit the $1.3 he “personally profited from through his crimes.”