Converted to condos in 1977
by BlockShopper Historian published Jan. 11, 2010
Prolific real estate developer George Benny bought Diamond Heights Village in 1977, then a rental development, and converted it to condos.
Benny was convicted on racketeering charges related to the purchase in 1982 and sentenced to 30 years in prison.
According to court records, Benny told Wells Fargo Bank that Diamond Heights Village cost $14.5 million and that he had put a $2 million down payment in escrow. But the purchase price was actually $12.5 million and he had only put $5,000 in escrow.
Benny was convicted on racketeering charges related to the purchase in 1982 and sentenced to 30 years in prison.
According to court records, Benny told Wells Fargo Bank that Diamond Heights Village cost $14.5 million and that he had put a $2 million down payment in escrow. But the purchase price was actually $12.5 million and he had only put $5,000 in escrow.
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