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Juliaetta man sentenced in federal fraud case
June 11, 2009, 10:24 am
Jeffery Lewis Grinolds, 44, also was ordered to serve three years of supervised released and pay $208,024 in restitution.
In April 2008, Grinolds filed for chapter 7 bankruptcy in Latah County, claiming he had $30 cash and an interest in a Peterbilt truck worth $300. He denied having any checking or savings accounts or business interests. He also denied being self-employed at any time over the six years prior to the bankruptcy filing.
An investigation found that Grinolds was the sole owner of Grinolds Fabrication, interests in logging contracts with Guy Bennett Lumber Company, and a savings account containing more than $4,000.
Prior to the bankruptcy filing in 2008, Grinolds failed to file income tax returns in 2003 after earning a gross income of more than $389,000.
Grinolds plead guilty to the charges in September 2008.
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