![]() ![]() A 25-acre parcel was sold to Jim Jones for $700,000 in 214 and then the rest was sold later that year to Ascent Acquisitions for $1.4 million in July 2014. Later that year a buyer was found for the property but they failed to close. The FDIC purchased the 800-acre property in July 2012 for $3.1 million but didn’t hold onto it for long. As part of a plea agreement, he was sentenced to two years in federal prison followed by three years of probation. Clarkson, the mortgage broker, pleaded guilty to conspiracy to commit bank fraud. Both wives received three years probation. Gibbs, Snider’s wife, pleaded guilty to one count of concealing a felony. Hall, the wife of David Drake, pleaded guilty to one count of concealing a felony after allowing the company she owned called Colorado Modular Home Finders Service, LLC to conceal Drake and Snider’s felonies by withdrawing home deposits from Columbia Bank. 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. It’s not every day that you come across an abandoned mansion, let alone a whole neighborhood of them. ![]()
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