SAN DIEGO — A San Diego man whose real estate investment and management company went bankrupt more than four years ago was indicted by a federal grand jury Tuesday on 18 counts of mail and bankruptcy fraud, as well as filing false declarations in bankruptcy court.
Lewis W. Shurtleff, 65, was charged with transferring title to two apartment complexes from his company, Frontier Properties, to himself, his wife and his brother in July, 1981, one month before the company filed for bankruptcy.
Bankruptcy court officials didn't know that the property existed, according to Assistant U.S. Atty. Charles F. Gorder Jr.
Shurtleff is charged with lying to bankruptcy officials by failing to report both the existence and the transfer of the properties, located in El Cajon.
If convicted, Shurtleff faces up to 90 years in prison and fines of as much as $30,000
Shurtleff, now residing in the East Bay Area, is expected to surrender to authorities in the next week, according to Peter Hughes, Shurtleff's attorney.