Grand Junction developers charged with fraud

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GRAND JUNCTION, Colo. (AP) — Two Grand Junction developers have pleaded not guilty to a 42-count indictment claiming they used bank loans approved for two Grand Valley subdivision projects for personal use.

Franklin Harris and Merlin Unruh were arraigned Tuesday on 35 counts of bank fraud, six counts of money laundering and one count of conspiracy to commit money laundering.

According to the Grand Junction Daily Sentinel (http://tinyurl.com/ajfl7et ), Harris and Unruh borrowed at least $4.6 million from First National Bank of the Rockies to help pay for the projects. Grand Junction planning manager Lisa Cox said Tuesday city planners have no pending development applications with Harris or Unruh.

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Information from: The Daily Sentinel, http://www.gjsentinel.com

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