Former real estate developer Roger Pollock pleads guilty to bank fraud
Plea deal revolves around 2008 construction loan for an office building in downtown Lake Oswego
Real estate developer and Lake Oswego resident Roger Pollock agreed to a plea deal last week in connection with federal bank fraud charges relating to a loan he obtained for the construction of an office building on A Avenue.
Pollock, 54, is best known as the owner of the now-defunct Buena Vista Homes, whose projects included 141 houses built in Happy Valley. The fraud charges relate to a loan Pollock obtained for construction of an office building at 412 A Ave that was never built.
According to the grand jury indictment handed down in May 2014, Pollock on two separate occasions in July 2008 rerouted loan funds from Banner Bank into another bank account at Northwest Bank. The two loans in the amount of $489,924 and $183,949 were then sent out of the United States to be used for projects that did not relate to the office construction in Lake Oswego, according to the indictment.
Then-U.S. Attorney S. Amanda Marshall wrote last year that Banner Banks loans to Pollock totaled more than $7 million.
On Thursday, Pollock agreed to plead guilty to making a false statement to a bank, which carries a maximum sentence of 20 years in prison, a $1 million fine and five years of supervised release.
In exchange, the U.S. Attorneys Office will dismiss an additional charge of bank fraud and a charge of making a false statement to a bank, and will bring no additional charges related to the financial fraud investigation.
Under the plea agreement, Pollock will be required to forfeit $183,949, which is the value of what was obtained as a result of the fraud. He will likely be ordered to pay up to $1.5 million in restitution.