Mo. businessman pleads guilty in development fraud - Chicago Tribune

Associated Press

4:40 p.m. CDT, October 30, 2011

EAST ST. LOUIS, Ill.—

Federal sentencing will be early next year for a Missouri developer now that he's pleaded guilty to seven counts of wire fraud linked to a failed $ 5.6 million affordable-housing project in East St. Louis.

Eighty-year-old Harold Rosen of Clayton, Mo., pleaded guilty Thursday in federal court in East St. Louis.

Authorities say Rosen admitted he provided cash to former East St. Louis community development director Arthur Johnson to get favorable treatment from the city.

Federal prosecutors say Rosen used bogus documents in applying for bank loans, and that he provided fictitious invoices and waivers to the city and the agency that oversees the city's spending so he could get paid for work that he had not performed.

Johnson pleaded guilty in May. He'll be sentenced Nov. 8.

AP-WF-10-31-11 0017GMT

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