Trial put on hold for Island man accused of fraud


November 24, 2008 · Updated 4:46 PM 

  • 0
  • Print Story
  • Letter/Editor

A continuance has been issued for the trial of Washington Evergreens hockey team founder, Gerald Alan ``Jerry'' Sherman, a 54-year-old Mercer Island man accused of 16 counts of wire fraud, securities fraud, mail fraud and attempted bank fraud.

Federal prosecutors allege Sherman bilked friends, acquaintances, a bank, and even an off-shore oil company of millions of dollars. Investors allegedly were told they were getting in on a gold program in which Sherman would purchase gold bullion at 10- to 15 percent of normal market prices, transport the gold to a refinery, then sell the refined gold on world markets at full price. Sherman allegedly used the funds to support the hockey team and pay for lavish trips for himself, his young hockey players, and their families.

Sherman's trial date was originally set for June 27, but has been moved to Nov. 28 at Seattle's Western District U.S. Courthouse. On June 14, Sherman was released from jail to return to his rented Mercer Island home on electronic home monitoring.

Comment on this story.

COMMENTING RULES: We encourage an open exchange of ideas in our online community, but we ask you to follow our guidelines for respecting community standards. In a nutshell, don't say anything you wouldn't want your mother to read. Please see our FAQ if you have questions or concerns about using Facebook to comment.

So keep your comments:

  • Civil
  • Smart
  • On-topic
  • Free of profanity

We ask that all participants own their words by logging in with their Facebook account. It's a simple process that will take seconds and helps keep our comments free of trolls, cranks, and “drive-by” commenters. We reserve the right to remove comments from anyone using screen names, pseudonyms or false identities. Please refer to our Terms of Use for full detail on participating on our site.

blog comments powered by Disqus