SALT LAKE CITY – Two Centerville real estate developers will be sentenced on Jan. 17, 2014, after being found guilty of theft and a pattern of unlawful activity.
Following a two-week trial in 3rd District Court, Allan Bruun and James Diderickson were found guilty of 13 felony and misdemeanor counts, according to a press release from the Utah Attorney General’s Office.
In August 2007, Brunn and Diderickson negotiated a deal to buy 29 acres in Saratoga Springs for $3.5 million, according to court records. The developers received a payment of $750,000, not only for development, but to send monthly checks of $10,000 to investors, according to court documents.
However, from December 2007 to May 2008, the pair wrote 28 checks totaling $240,577 they used for their own purposes and for two other projects in Davis County.
After the developers stopped making the monthly payments, the investors learned the account containing the $750,000 had been depleted, the press release said. The investors eventually lost half the property
The defendants were convicted of five second-degree felony counts of theft, six third-degee felony counts of theft, one class A misdemeanor and one second-degree felony count of pattern of unlawful activity.