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Roseville developer Alizadeh pleads guilty to bank fraud

Abe Alizadeh, one of the most prolific developers in the region before his company collapsed in a $390 million bankruptcy, pleaded guilty on Friday to federal charges of wire fraud, bank fraud and making false statements to banks.

The charges stemmed from a 2015 indictment that accused Alizadeh of scheming to defraud commercial real estate lenders before his Roseville-based Kobra Properties filed for bankruptcy in 2008, leaving numerous banks and construction companies unpaid.

Alizadeh was one…

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This article was syndicated from: Sacramento Business News - Local Sacramento News | The Sacramento Business Journal - Click here to read the original article

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