Erik Osborn has been convicted twice of felony theft -- but the developer won't be going to the Big House. Yesterday, Denver District Judge Robert McGahey sentenced Osborn to ten years of community corrections for diverting investor funds meant for 1800 Glenarm Place. Those ten years will follow the ten years in community corrections that Osborn received in April for diverting funds from other high-profile investors in his nearby One Lincoln Park project.
McGahey said he would have liked to send Osborn to jail, but the previous sentence set a precedent.
"But for that sentence, I would send you to the penitentiary without any sentence at all," McGahey told Osborn. "Thieves are thieves."
Osborn told the court that by staying out of prison, he can work to pay back his investors.
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Let's just hope it's not with future investors' funds.