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Spokane developer faces federal indictment

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Associated Press
SPOKANE -- A federal indictment against Spokane developer Gregory D. Jeffreys was unsealed Wednesday, accusing him of a Ponzi scheme in which he secured financing for buildings that sometimes didn't exist.
The Spokesman-Review reported that the indictment also charges his wife, Kimberly Jeffreys, and Shannon Stiltner, who is described in court records as his girlfriend.
All three pleaded not guilty. A federal magistrate ordered all three held in the Spokane County Jail on $150,000 bail.
Gregory Jeffreys was arrested Tuesday at Spokane International Airport as he was preparing for a business trip. Paperwork in the investigation was seized in a July 2011 raid on the Jeffreys' Spokane Valley home.
Story tags » FraudSpokane

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