Block 37 developers Laurence Freed, Caroline Walters indicted on federal fraud charges

December 12, 2013 4:13:16 PM PST
The developers of Block 37 have been indicted on federal fraud charges.

Laurence Freed and Caroline Walters, a vice president of his firm, have been charged with bank and mail fraud.

The indictment says when Freed's company ran into financial trouble, they made false statements to the city and to banks to obtain millions of dollars in loans and lines of credit.