"The property is unique," Griffin said. "There are very few parcels like this remaining in Beverly Hills."

The land's 15 owners have agreed to deed over half the proceeds to the victims, through Fitzgerald, once their original investments and debts are covered, said Brian Hansen, adviser to the landowners.

Fitzgerald had previously owned the land, but it went into foreclosure, Hansen said. When he didn't fight it in court, the new group bought it, and the agreement was tentatively made.

Without Fitzgerald on the project, Hansen said they would just sell the land as is, without developing it. But based on his ability to build retaining walls on steep, hillside property, the developed land would sell for more.

Based on prices for a similar development next door that's not quite as posh, Hansen and Griffin are projecting their area could bring in as much as $18 million a lot. There are five lots.

"It helps both of us if he doesn't go to prison," Hansen said, who is seen by many victims as a good Samaritan.

However, the developing process would be difficult and long, at least 2 1/2 years, Hansen said.

"I don't think these folks are going to see this money in their lifetimes," Judge Samuel McVey said. Many of the investors who spoke are senior citizens.

But some say they will wait. "This plan is the only way we can get our restitution," said investor James P. Kelly. "It is our only chance."

Prosecutor Chad Grunander said the Utah County Attorney's Office is weighing justice and public interest against the concerns of the victims and getting their restitution.

"He's been given ample opportunity and ... made some restitution," Grunander said. "But it's quite nominal in the grand scheme of things."

He called the development project "tenuous" and asked that sentencing continue as planned in August.

McVey was very clear that within a month he wanted a detailed plan from Griffin, including sworn statements, affidavits and property appraisals to assure him and the victims that the plan was legitimate.

"We've been through this before where he says he'll make restitution," McVey said. "I want to see how he's going to fulfill these promises."

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E-mail: sisraelsen@desnews.com