Real estate investors say they were duped by developer facing felony charges, civil suits
(Source: Denver Post)
The One Lincoln Park high-rise at East 20th Avenue and Lincoln Street turned heads when it became the first new residential tower in more than 40 years to rise out of downtown’s skyline.
But the visionary behind the project is mired in a legal morass that includes felony charges, a host of civil lawsuits and a new grand jury investigation.
Erik Osborn, 41, stands accused of two third-degree felony counts and faces up to 24 years in prison if convicted. According to an indictment handed up in December 2007, Osborn allegedly diverted about $147,000 from One Lincoln Park and $108,000 from an office building renovation project at 5351 S. Roslyn St. in Greenwood Village. He allegedly used the money for improvements to his own home.
But even though he lives in a $6.5 million home, he recently tried to seek a public defender, saying he couldn’t afford an attorney.
Read Margaret Jackson’s full article “Investors face high-rise anxieties” in the Denver Post (April 19, 2009).