81 Year Old Developer Going to Jail
EAST ST. LOUIS, Ill. (AP) – An 81-year-old Missouri developer has been ordered to spend four years in federal prison for wire fraud linked to a failed $5.6 million affordable-housing project in East St. Louis.
Eighty-one-old Harold Rosen of Clayton, Mo., also must pay more than $66,000 in restitution to East St. Louis. Rosen pleaded guilty last October to seven wire fraud counts.
He admitted he provided cash to former East St. Louis community development director Arthur Johnson to get favorable treatment from the city.
Federal prosecutors say Rosen used bogus documents in applying for bank loans, and that he provided fictitious invoices and waivers to the city and the agency that oversees the city’s spending so he could get paid for work that he had not performed. Johnson is serving a related three-year prison sentence.
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