Erik Osborn, Denver developer, back in court today for a second trial

Erik Osborn, already sentenced to ten years in community corrections earlier this month, will be back in Denver District Court today for a second trial. He's again charged with felony theft, for again allegedly using funds raised from one development project for another.

Osborn's first conviction, in December 2009, involved the misuse of more than $150,000 raised from high-profile investors -- including "Dealin' Doug" Moreland -- for the One Lincoln Park development. This time around, the project is 1800 Glenarm Place.

As this Westword story details, a grand jury handed down a second indictment against Osborn last October, charging that he'd misused more than $250,000 that more high-profile investors -- including former Boulder mayor Bob Greenlee -- had put toward the 1800 Glenarm Place project.

Ironically, Greenlee first met Osborn at the groundbreaking ceremony for One Lincoln Park in March 2006. With Osborn as developer and wife Angela Osborn acting as head leasing agent, the $140 million, 32-story One Lincoln Park project was pitched as the cornerstone of a new, high-flying residential district.

But the once high-flying Osborn could soon be grounded permanently.