Summit 1031 sentencing delayed

Sentencing for Bend residents Mark Neuman and Lane Lyons, and Redmond resident Timothy Larkin, on charges in wire fraud and money laundering conspiracies has been rescheduled for Dec. 16, according to the U.S. Attorney’s Office.

The co-owners of Bend-based Summit 1031 Exchange were scheduled to be sentenced today in U.S. District Court in Portland. A federal jury found the three guilty of the charges on July 3, after investing client funds in personal real estate deals across Central Oregon during the real estate boom.