POCATELLO, Idaho (AP) — The U.S. Department of Justice says a mobile home park in eastern Idaho was used as part of an investment fraud scheme that bilked more than 400 investors of $31 million over the last decade.
Authorities say the scheme involved developing subdivisions with manufactured and mobile homes, including lots at the High Country Estates in Pocatello, and selling individual lots to multiple investors.
A federal grand jury in Denver last week indicted the owners and operators of Valley Investments of Grand Junction, Colo. Indicted were company owners Philip R. Lochmiller and Philip R. Lochmiller II, and employee Shawnee Carver.
Prosecutors say the Lochmillers and Carver solicited money from investors, knowing their business wasn’t generating enough profits.
