Houston Developer Gets 9 Years For Hurricane Ike Fraud

Law360, Dallas (January 18, 2013, 6:49 PM ET) -- A Texas federal judge on Friday sentenced a Houston real estate developer to nine years in prison after he pled guilty to defrauding the Federal Emergency Management Agency by exaggerating losses to his properties after Hurricane Ike.

Jon August Holverson, owner of Bayou City Properties, pled guilty in December 2011 to one count of fraud in connection with a major disaster and one count of conspiracy to commit fraud. U.S. District Judge Melinda Harmon sentenced Holverson to nine years on the fraud charge and five years...
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