KANSAS CITY, KAN. - Four people pleaded guilty Wednesday to taking part in a real estate fraud scheme in connection with the development of Indian Ridge Resort, a resort community located near Branson, Mo.
The following defendants pleaded guilty:
David P. Drake, 56, Lone Tree, Colo., one count of conspiracy to commit bank fraud, and one count of conspiracy to commit money laundering.
Donald D. Snider, Jr., 55, Littleton, Colo., one count of conspiracy to commit bank fraud, and one count of conspiracy to commit money laundering.
Vickie A. Hall, 63, Lone Tree, Colo., one count of concealing a felony (misprision).
Heather A. Gibbs, 53, Littleton, Colo., one count of concealing a felony (misprision).
Drake and Snider were partners in Western Sites Services, a company that was engaged in developing Indian Ridge Resort. They borrowed money for the project from three banks, one of which was Columbian Bank and Trust in Topeka, Kan. In their pleas, they admitted they and other conspirators made false representations to Columbian Bank in order to obtain loan funds.
Vickie Hall was the wife of David Drake. Heather Gibbs was the wife of Donald Snider and a 2 percent owner of Western Site Services. In her plea, Gibbs admitted she knew invoices submitted to the bank included overhead and profit in the line item costs in violations of the terms of the loan agreement. Hall owned a company called Colorado Modular Home Finders Service, LLC. In her plea she admitted she helped to conceal Drake and Snider’s felonies by allowing her company, Colorado Modular Home Finders Services, LLC, to be used to withdraw home deposits from Columbia Bank.
Sentencing hearings will be set for a later date. Both parties have agreed to recommend five-year prison terms for Drake and Snider, and three years on probation for Hall and Gibbs.
Grissom commended the Federal Deposit Insurance Corporation, the Internal Revenue Service, the U.S. Secret Service and Assistant U.S. Attorney Chris Oakley for their work on the case.
Source: U.S. Department of Justice, Office of the United States Attorneys
