The demise of Sunwest Management hurt more than 50 Oregonian investors. Now a plan to recover that money is upsetting investors because of its benefits for former CEO John Harder.
A plan to salvage investor money from the collapsed Sunwest Management emerged from an intensive three-month mediation Wednesday — and immediately provoked cries of foul because it gives former CEO Jon Harder a $75,000 a year salary for no future work and a 25 percent stake should the reorganized company prove successful.
“I found it unbelievable that a judge, no matter how happy he was to try to mediate, could agree to giving a salary to this man when he’s not even deemed fit to run the organization — regardless of whether the judge thinks he’s guilty or not,” said Annette Cooley, whose parents, who live in Vida, put their $1 million nest egg into Sunwest ventures and, so far, have lost it all.
Read the full story at The Register-Guard.