Indian ridge resort1/9/2023 ![]() ![]() Both were sentenced to five years in federal prison. Admitting they and other conspirators made false representations to Columbian Bank in order to obtain loan funds. ![]() Snider, Jr., both pled guilty to one count of conspiracy to commit bank fraud, and one count of conspiracy to commit money laundering. Five people were then arrested and tried over the next 6 years in connection to the real-estate development fraud surrounding Indian Ridge Mansions.ĭavid P. This only further worsened their financial problems that had been ongoing for three years at this point and with no clear way out in sight. Shirato was fined $215,000 and Snider was fined $100,000. By 2009, Lead Developer Jim Shirato and North Shore Development were trying to find other funding for the project after they defaulted on 51 loans.Īgain more problems arose in 2011 when Shirato and Donald Snider pleaded guilty in federal court in Springfield to violating the Missouri Clean Water Act. Instead of using the $14 million, they withdrew from the Columbia Bank for construction on the Indian Ridge Mansions, instead, they used most of the loan proceeds to repay bank loans for other projects they were involved in Colorado. As banks were on the edge of collapse and the global financial crisis caused credit lines to vanish, federal regulators shut down the project as their loans were defaulted on. However, the 2008 Great Recession was just the start of problems that would plague the construction halting work altogether. In order to make the costly project come to fruition, they had to borrow money from three banks which were Columbian Bank and Trust in Topeka, Great American Bank of Lawrence, and Wells Fargo Bank. Snider, Jr., both out of state developers from Colorado, were partners under the name Western Sites Services (North Shore Development)and engaged in developing the Indian Ridge Mansions. In a way, they vaguely resemble the abandoned castles I have seen in Turkey, which were remnants of Disney.ĭavid P. Most of them being a cookie-cutter design of the last and two being bigger than the rest. Altogether just thirteen mansions were constructed or partially constructed on the premises in the two years. Hundreds and hundreds of trees were cleared from the land to make way for the urban plans. In 2007 the groundbreaking on the new development took place, and a brand new welcome sign was put at the entrance to the partially paved road. The massive 900-acre development would have cost over $1.6 billion if it had actually gotten further off the ground. That’s what the people that would have lived in Indian Ridge Resort Community would have had to look forward to if it had ever been completed. All the while surrounded by condos, and towering modern townhomes. Around the corner is a waterpark to relish in the summer sun and a shopping center and hotel bringing in hundreds of tourists. Just a few miles away from a picturesque lake with a brand new marina to take the boat out. Picture this, you drive into your gated community that lies on a grassy knoll surrounded by huge oak and hickory trees. The Indian Ridge Mansions development has been the subject of controversy and headache to locals. Indian Ridge later received a $1 million grant from the state Department of Natural Resources for a wastewater plant, and major highway improvements were planned.It’s not every day that you come across an abandoned mansion, let alone a whole neighborhood of them. He yelled into a bullhorn for the excavators to start their engines. Matt Blunt was at the ceremony when it was announced. He said developers would eventually spend $1.6 billion for shopping areas, a 390-room resort hotel with the country's second-largest indoor water park, a golf course, a marina and an Indian history museum in addition to the townhomes or condominiums. Jim Shirato of Springfield was the lead developer when the 900-acre project was announced in 2006. Secret Service worked with federal prosecutors on the case. The Federal Deposit Insurance Corporation, the Internal Revenue Service, and the U.S. As of Wednesday, the judge hadn't determined how much restitution to order for Drake and Snider, according to FBI special agent John Nunez, a public information officer, for IRS Criminal Investigation. As part of their sentences, a judge ordered Vickie Hall and Heather Gibbs to make restitution in the amount of $120,000 each.
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