Former Sunwest Management CEO Jon Michael Harder has been sentenced to 15 years in prison for defrauding assisted living community investors of millions of dollars. Judge Michael H. Simon of the U.S. District Court in Portland, OR, has ordered him to report to federal prison Feb. 25.
Harder’s sentence also includes three years of supervised release and restitution to his victims, which will be determined later.
Simon granted prosecutors the sentence they were seeking in what the U.S. Attorney’s Office for the District of Oregon is calling the largest investor fraud prosecution in the state’s history. Harder’s defense team had been seeking five years. The former CEO’s two-day sentencing hearing had begun Monday.
In January, Harder pleaded guilty to one felony count of mail fraud and one felony count of money laundering. He admitted to lying to more than 50 investors to obtain more than $5 million from late 2007 through February 2008.
Harder originally was indicted in 2012 on 56 counts of mail fraud, wire fraud, money laundering and other charges. The government accused him of defrauding more than 1,000 investors out of about $130 million in a Ponzi scheme between 2006 and 2008.
At one point, Sunwest owned about 300 assisted living communities.