TACOMA, WA-Two local residents falsely led people living on Ketron Island to believe they were building an upscale residential community and a destination hotel there. But in reality, a judge has decided, the pair bilked the unsuspecting property owners out of roughly $2 million.
U.S. District Court Judge Jack E. Tanner has ruled that Charles Fain Jr., 54, and Catherine Cooley, 57, were guilty of a scheme on Ketron Island that involved 20 people. Ketron Island sits between Steilacoom and Anderson Island in Pierce County.
Fain and Cooley promoted a real estate investment and development project on the island, which they intended to develop into an upscale residential community with a golf course, destination hotel, marina and improved ferry service, according to court records.
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