One of three developers accused of securities fraud is free without posting bond. Two people who invested in his renovation of a historic apartment building say that's a mistake.
Jason Plog is accused of taking money that investors say should have been put toward the project in midtown Omaha. If convicted on each count, Plog could face a sentence of up to 60 years in prison.
The two investors, who each lost more than $100,000, are disappointed Plog was given a pre-sentence release without bond. "They took money contrary to the agreement and used it for their own purposes and they let the project go bad, go sour by taking that money,” said Neil Willer.
“Mr. Plog and I look forward to clearing his good name and to fight these charges vigorously in court, these criminal charges,” said defense attorney Don Schense. “We maintain there's no fraud, no intent to defraud.”
Plog and two other developers are accused of misusing more than $200,000 for the Ambassador Apartment Project. Another developer had to post bond while the third is out of town and expected to turn himself in soon.