Former Peoria hotel owner sentenced on fraud charges - WEEK.com: Peoria-area News, Weather, Sports

Former Peoria hotel owner sentenced on fraud charges

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PEORIA, Ill. (WEEK) -- -

The former owner of the Four Points at Sheraton hotel in downtown Peoria was sentenced to 25 years in prison Wednesday in federal court.

The Chicago Tribune reports Nikesh Patel, 34, of Windermere, Fla. was sentenced amid charges of a massive $179 million in real estate fraud. When awaiting sentencing in January, Patel was arrested by authorities trying to board a plane to Ecuador, where he was seeking political asylum. 

Patel admitted to the loan scams in a 2016 plea agreement with federal prosecutors. The Tribune reports he used cash from the loans to fund hotel projects in Illinois and Florida, as well as his own lavish lifestyle. 

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