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Former Real Estate Developer Says He's Innocent

July 2, 2009

By Kaitlyn Bolduc
 
July 2, 2009
 
 
 
Brownsville, Ore.--For the first time in a year long investigation Joe LaCoste, a former Albany real estate developer, suspected of running a multi-million dollar ponzi scheme speaks out only to KEZI 9 News.
 
 
An FBI investigation shows LaCoste amassed 17.8- million dollars from bank loans and investors for several different projects in Oregon, but he failed to complete a single one. Investigators say that money is now unaccounted for, but LaCoste says the FBI report is wrong. He says he never stole any money and those projects would have been completed, if he'd been given the chance.

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