Gold Hill resident sentenced in $20 million bank fraud case
Chief U.S. District Judge Ann Aiken has sentenced a Gold Hill resident to 90 months in prison for his role in defrauding banks out of $20 million.
35-year-old Gold Hill resident Tyler Fitzsimons spearheaded the mortgage-fraud scheme and used a company he founded in 2004, Desert Sun Development based out of Bend, to perform the scam.
Fitzsimmons and his co-conspirators filed false financial statements and tax returns in order to acquire huge loans from banks for construction projects and instead of building the structures they pocketed the money.
The defendants used the proceeds to buy Dodge Vipers, vacations and other niceties.