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January 31, 2014

Bend developer gets 10 years, owes $13M

  • Prosecutors said the fraud involved commercial projects and home construction flipping.

    • EUGENE, Ore. (AP) — A former Bend developer must report to authorities by May 1 to start serving a 10-year prison sentence in connection with a wide-ranging mortgage fraud scheme that occurred during Central Oregon's real estate boom and bust.

    Shannon Egeland, 39, was vice president of the now-defunct Desert Sun Development company, which orchestrated tens of millions of dollars in mortgage fraud between 2004 and 2008. Company president Tyler Fitzsimons was previously sentenced to more than seven years in prison.


     
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