Nearly four years after Denali Alaskan Federal Credit Union charged a prominent real estate developer with fraud, a federal grand jury recently indicted Lee Baker Jr. for making false statements to obtain more loans.
Baker allegedly made several transactions through the $444 million Denali Alaskan in Anchorage dating back to 2005 to fund several condominium units, according to several local media reports.
To obtain the loans, the U.S. Attorney's Office said, Baker transferred property from his company Discovery Construction to himself and then back to his company.
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