Roofing Officer Sentenced in $ 2 Million P3 Loan Scam | Business Observer

0


A federal jury convicted Casey David Crowther, 35, of Fort Myers, in a PPP loan fraud case where authorities alleged the roofing company executive bought a $ 700,000 boat, among other expenses, with ill-gotten gains.

Fort Myers-based President of Target Roofing & Sheet Metal Crowther has been convicted of bank fraud, making a false statement to a lending institution and two counts of money laundering. Prior to that trial and the March 26 conviction, Crowther pleaded guilty to one count of bank fraud and one count of misrepresenting a financial institution related to a mortgage fraud scheme. In that case, according to a statement from the U.S. Attorney’s Office, Crowther created fake bank statements to justify a loan he used to buy a nearly $ 1.3 million waterfront home in St. .James City, on Pine Island in Lee County.

In the PPP loan case, Crowther, according to evidence presented at trial, obtained a $ 2.1 million paycheck protection program loan by falsely stating that he intended to use money to pay payroll and pay rent and utilities for Target Roofing and Sheet Metal. Yet Crowther, authorities argued at the trial, “intended to use the money to get rich and, once the loan was secured, quickly used the proceeds to make a series of personal purchases, including one. boat for nearly $ 700,000 and a payment of $ 100,000 to a former business partner. “, According to the press release.

The boat, according to the criminal complaint filed in September, is a 2020 40-foot invincible catamaran purchased from Sara Bay Marina in Sarasota. Crowther, according to the complaint, had wired $ 689,417 from the Target Roofing PPP account to a Sarasota bank to facilitate the purchase. Then he registered the boat in his name at his home in North Fort Myers.

In addition to the purchase of the boat, the complaint alleged that Crowther had transferred funds from the PPP account on other occasions. A transfer, of $ 126,000, went from the PPP Target Roofing account to a corporate checking account managed by the company with the “casey loan statement,” according to the complaint. Further, authorities say Crowther wired $ 100,000 from the Target Roofing PPP account to the account of a former company actor who resigned on December 31.

Crowther, evidence at trial, covered up the scheme by providing false explanations of the expenses to his bank, officials say, calling the boat “equipment” and the payment to his partner as “payroll.” Crowther, officials further alleged, added several family members to his company’s payroll who weren’t actually doing work, to “make sure he didn’t have to pay back the loan in the future. within the framework of the PPP program ”.

Crowther also created 39 bogus employees, along with fake identification documents, including Social Security cards, in an attempt to prove his company was using the funds appropriately on payroll, officials said.

Crowther’s attorney, Nicole Waid of FisherBroyles, did not return phone calls, emails and texts asking for comment on the jury’s verdict.

Crowther faces a maximum of 30 years in federal prison for bank fraud and misrepresentation, and up to 10 years in federal prison for each charge of money laundering. A sentencing date has not yet been set.



Source link

Leave A Reply

Your email address will not be published.