By News-Register staff • 

Former Sunwest CEO's sentence commuted

Herder was sentenced in 2015 for investment fraud following a lengthy FBI investigation resulting in what prosecutors described as the most massive investment fraud in Oregon history. He was serving his sentence at he Federal Corrections Institute in Sheridan until his release.

A press release from the White House noted that Harder “fully accepted responsibility, pled guilty, and cooperated with the government’s civil and criminal actions against him at great personal cost. ... President Trump commends Mr. Harder for choosing to put his employees, investors, and the senior citizens residing in Sunwest’s homes above himself.”

Harder served as president and CEO of Sunwest from 1992 to 2008.

The company bought Hillside in 2003. The McMinnville retirement center was in receivership at the time, because of an overly ambitious and expensive expansion plan, so Sunwest was viewed as a rescuer.

Around the same time, Sunwest began purchasing other properties in Yamhill County, its local holdings ultimately coming to include the Osprey Point Assisted Living Community, Osprey Memory Court and Osprey Pointe Cottages in McMinnville, the Chehalem Springs Retirement Community in Newberg, and the Deer Meadow Assisted Living Facility in Sheridan.

But just a year later, Sunwest’s former chief financial officer filed a federal lawsuit accusing Harder and key associates of racketeering, fraud and theft. Federal officials began investigating, and weary Hillside residents knew they were in for another wild ride.

Sunwest officials continued to promise residents the situation was under control. But the company’s financial problems forced staff layoffs, made it difficult to attract new residents and fueled anxiety among existing residents.

In 2008, Sunwest put 132 of its 275 centers up for sale, including Osprey Pointe. In 2009, Harder resigned and the company went into bankruptcy.



Justice for the rich & connected.....
“He cooperated with civil & criminal actions at great personal cost”.....somehow I can’t feel much sympathy......wonder what the price tag was for trumps signature......

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