Gunstream target of criminal investigation
sstrauss@idahopress.com
Monday, July 6th, 2009
NAMPA — Idaho State Police have confirmed that commercial real estate businessman Jerry Gunstream is under investigation in connection with his business dealings.
State police officials searched the Nampa residence of the prominent broker as part of a suspected embezzlement investigation still in its early stages. The investigation is ongoing, so few details were released about why Gunstream is under scrutiny.
But state police officials confirmed two search warrants were served Wednesday.
Wife: No role in husband's business
Jerry Gunstream's wife, Nampa Chamber of Commerce CEO and President Georgia Bowman, told the Idaho Press-Tribune that she has played no role — financially or otherwise — in her husband's business dealings.
Bowman said she started divorce proceedings this week after learning earlier this week that Gunstream was under investigation.
The Nampa Chamber is not involved in the financial matters of Coldwell Banker Commercial Gunstream and Associates, said chamber board chairman Hollie Lindner.
"Georgia Bowman-Gunstream has effectively led the chamber over the last 13 years and the board continues to value her leadership," Lindner said.
"Obviously we were able to convince the judge this was merited and to go onto the property," ISP spokesman Rick Ohnsman said. "No arrests have been made at this point. (Investigators) are examining what they found on the premises."
Various materials were confiscated by investigators, but details about the types of items taken were not immediately available.
Gunstream is president of Coldwell Banker Commercial Gunstream and Associates in Nampa.
Nampa Police Department Chief Bill Augsburger said the investigation was handed over to ISP because of the conflict of interest relating to Gunstream's past employment with the city. Gunstream served as the city of Nampa's director of finance and administration from 1998 to 2000.
He formed Gunstream Commercial Real Estate in 2000, and in July 2008 the company joined with Coldwell Banker Commercial as an affiliate.
The firm has 56 properties for sale and 51 for lease in the Treasure Valley including industrial, office and retail spaces, according to the company Web site.
Gunstream did not return phone messages left by the Idaho Press-Tribune Thursday evening.
According to the company's Web site, Gunstream moved from Denver to Nampa in 1992 and worked for several years with Northwest Nazarene University to help expand the physical campus through real estate acquisitions, raising funds for new facilities and community relations.
During this time he became involved in community and government relations and with the Idaho Legislature, where he served as a registered lobbyist for several years, the Web site states.
He also served as chairman of the board for the Nampa Chamber of Commerce from 1996 to 1997.
