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Former Peoria Real Estate Developer Sentenced

Former Peoria Real Estate Developer Sentenced
A former Peoria real estate developer, charged with bank fraud and money laundering in 2011, was sentenced Friday in Springfield federal court to two years in prison and pay $598,536 in restitution. 40 year old Shara Andrews, formerly known as Shara Manning, who now lives in Mobile, Alabama, was accused of defrauding several Peoria banks of about 800 thousand dollars, according to a federal news release. Prosecutors claim Andrews obtained two consolidated loans worth about one and a half million dollars to develop Wyndhill Estates subdivision. They also claim she converted money to her personal use as part of the alleged scheme rather than repaying the bank as required and ensuring clear title to the buyers of the lots. Andrews will begin serving her sentence January 1st.
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