PORTLAND -- The former chief executive of a Salem-based chain of retirement centers has been indicted on charges he defrauded more than 1,000 investors of $130 million.
Prosecutors say Jon Harder operated what amounted to a Ponzi scheme, raising money from investors and banks during the collapse of his Sunwest Management chain of more than 300 assisted-living centers and related operations.
The company housed more than 15,000 people with an average age of 85.
Harder stepped aside in 2009, the company went through reorganization, and a private equity company bought most of the holdings.
Harder was accused Wednesday in a sealed indictment and is to be arraigned Friday. Authorities say he had been living in North Dakota and surrendered Thursday in Portland.