Restitution hearing set for Hastert victims | TheUnion.com
YOUR AD HERE »

Restitution hearing set for Hastert victims

A restitution hearing for the victims of Thomas Hastert, who pleaded no contest to 63 counts of embezzlement and illegally selling real estate securities in August, has been set for March 23.

Hastert’s court-appointed attorney, Monica Lynch, and State Deputy Attorney General Keith Lyon met with Nevada County Superior Court Judge Robert Tamietti to hash out some court dates Wednesday morning. Sentencing also was set, for April 20.

Hastert pleaded no contest to 63 counts of embezzlement and illegally selling real estate securities after brokering more than $20 million in 270 hard-money loans between 2004 and 2007 for real estate development projects. He faces six to 15 years in prison.



The Former Loan Sense owner used money from area investors to give loans to people wanting to build homes. Prosecutors and victims said much of the money never went into legitimate loan accounts, and they contend Hastert took it. He also allegedly set up fake straw investors to lead original investors into thinking the loans they supposedly were funding were secure.

For more on the story, read Thursday’s edition of The Union.


Support Local Journalism


Support Local Journalism

Readers around Grass Valley and Nevada County make The Union’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.

 

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User