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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Ashland man admits to laundering pot money ... Pot crash course offered in Ashland ... Animal Control rescues stranded Labrador ... Ashland man admits to laundering pot money ... Pot crash course offered in Ashland ... Animal Control rescues stranded Labrador ... Former Sunwest CEO gets 15 years for fraud; retirement centers operated in Southern Oregon Comment By The Associated Press MailTribune.com By The Associated Press Posted Nov. 17, 2015 at 6:03 PM Updated Nov 17, 2015 at 6:46 PM By The Associated Press Posted Nov. 17, 2015 at 6:03 PM Updated Nov 17, 2015 at 6:46 PM » Social News PORTLAND — The former head of an Oregon-based chain of retirement centers, some of which operated in Southern Oregon, has been sentenced to 15 years in prison for defrauding investors of $130 million. Jon Harder was handed the sentence Tuesday in federal court in Portland. Prosecutors said Harder operated what amounted to a Ponzi scheme, raising money from unsuspecting investors and banks during the collapse of his Sunwest Management chain of more than 300 assisted-living centers. Harder pleaded guilty in January to mail fraud and engaging in monetary transactions in property derived from unlawful activity. At one time, Sunwest operated several centers in Southern Oregon, including Eagle Cove Retirement and Assisted Living in Eagle Point, Morrow Heights on Wards Creek Road in Rogue River and three in Grants Pass — The Suites on Southeast Parkdale Drive, Spring Meadow Cottages on Shady Lane and Spring Meadow Retirement Community on Redwood Circle. Sunwest also managed the Mountain View Retirement and Assisted Living facility in Ashland. U.S. District Judge Michael Simon on Tuesday gave prosecutors the sentence they sought: 15 years. Harder's attorneys had asked for five years. Salem-based Sunwest was hemorrhaging cash in early 2006, but Harder led investors, including many retirees, to believe it was thriving. He went on a buying spree to hide company losses, acquiring more than 100 assisted-living centers at a rate of one a week. Prosecutors said Harder defrauded more than 1,000 investors between 2006 and 2008, and did so while living a lavish lifestyle. In a letter to Judge Simon, Harder apologized for the "carnage and problems" he caused. "I know I was reckless by growing so quickly, and in using other people's money to do so, but I never intended to harm anyone," he wrote. "I wanted everyone connected with Sunwest to succeed." The company went through a reorganization after Harder stepped aside in 2009. A private equity company bought most of the holdings, and investors eventually got some money back. In a separate case, the U.S. Securities and Exchange Commission filed a lawsuit in 2009 that accused Harder of committing securities fraud. The SEC sought up to $190 million in civil penalties, but a judge struck down the attempt. By The Associated Press MailTribune.com By The Associated Press Posted Nov. 17, 2015 at 6:03 PM Updated Nov 17, 2015 at 6:46 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2015 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501