Developer Erik Osborn thought that One Lincoln Park would be his towering achievement. Instead, it could land him in the big house with a 24-year sentence.
Osborn will be in court this morning for sentencing on his felony-theft conviction in connection with financial shenanigans at One Lincoln Park, the luxury high-rise development at 20th and Lincoln. In late 2007,, Osborn was charged with misappropriating $150,000 in funds -- funds from some high-profile investors, including "Dealing Doug" Moreland. A jury convicted Osborn of two counts of felony theft in December.
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Osborn had been accused of diverting money from two development projects -- $108,000 from a project at 5351 South Roslyn Street in Greenwood Village and about $147,000 from One Lincoln Park -- and using the money for improvements to his personal home.
And even after his sentencing this morning in connection with those charges, the cases against Osborn keep building. Last fall, another grand jury concluded that sufficient evidence existed to indict Osborn on similar charges involving a project he'd headed just a hundred yards away, at 1800 Glenarm Place. That development, too, involved some high-profile investors, including former Boulder mayor Bob Greenlee. Osborn has pleaded not guilty in connection with that felony-theft case.
Today's sentencing could give Osborn up to 24 years in the big house, rather than the fancy house in the Polo Club he bought in another convoluted deal.
Watch what develops.