News and Press Releases

"Greg Jeffreys Sentenced To 8 Years In Federal Prison And Ordered To Make $9.3 Millions In Restitution"

FOR IMMEDIATE RELEASE
June 09, 2014

Spokane – Michael C. Ormsby, United States Attorney for the Eastern District of Washington, announced that Gregory D. Jeffreys, of Spokane, was sentenced today after having previously pleaded guilty in November, 2013, to several criminal charges -- Wire Fraud affecting a Financial Institution, Bank Fraud, Wire Fraud, and Conspiracy to Commit Felony Criminal Contempt. Following a three day sentencing and restitution hearing, United States District Court Chief Judge Rossana Malouf Peterson sentenced Jeffreys to an eight-year term of imprisonment, to be followed by a five-year term of court supervision after he is released from Federal prison. In addition to substantial criminal forfeiture, Chief Judge Peterson ordered Jeffreys pay $9.3 million in total restitution to approximately 29 different victims.

According to court records, from 2006 through 2013, Jeffreys engaged in a series of fraudulent schemes in and around Spokane, Washington and Las Vegas, Nevada. In addition to operating a multi-state Ponzi scheme, Jeffreys' fraud crimes also involved transactions relating to the Military Entrance Processing Station (MEPS) in Airway Heights, Washington, and the Ridpath Hotel in downtown Spokane, Washington. In particular, Chief Judge Peterson ordered Jeffreys to make $2.6 million in restitution relating to Ridpath Hotel transactions.

Michael C. Ormsby said, "Prosecuting fraud and other white collar crime is a priority of the United States Attorney's Office in the Eastern District of Washington. Greg Jeffreys became a notorious fraudster in the Spokane area and elsewhere. I commend the FBI and members of my office for their dedication and tenacity in unraveling Jeffreys' fraudulent schemes and vigorously pursuing restitution for the victims of Jeffreys' crimes. This Office, together with its Federal and state law enforcement partners, is and will continue to be committed to prosecuting aggressively and seeking appropriate punishment for these types of crimes and restitution for the victims."

This investigation was conducted by FBI. The case was prosecuted by Sean T. McLaughlin, an Assistant United States Attorney for the Eastern District of Washington.

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