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July 28, 2015

Developer pleads guilty to lying

PORTLAND (AP) — A Portland real estate developer pleaded guilty to lying to a bank about where he would direct the money from a loan.

The Oregonian reports (http://bit.ly/1Ot9J9j ) Roger Pollock told Banner Bank in 2008 that the $5 million construction loan would go to build a new headquarters for his company in Lake Oswego. But prosecutors said he steered at least $700,000 to a resort project in Mexico.

Pollock was indicted in May 2014 and charged with bank fraud and two counts of making false statements to a bank. The government dropped two of the charges as part of the deal approved earlier this week.

Pollock, who now lives in San Diego, faces probation to 27 months in prison. His attorney said the bank took back the headquarters building and suffered no loss.




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