Grand Prix CFO Sentenced for Identity Theft

The former main financial officer of the Boston Grand Prix has been sentenced to prison for his component in a number of wire fraud, aggravated identity theft and dollars laundering schemes.

John F. Casey of Ipswich, Massachusetts, was appointed as Boston Grand Prix CFO in January 2015. The group manufactured payments totaling roughly $308,292 in 2015 and $601,073 in 2016 to or on behalf of Casey, which he failed to include things like in the gross money he claimed on his private tax returns for those a long time.

Casey also created false statements to funding firms to protected $743,000 in funding to purchase tools for an ice rink in Peabody, which he owned involving Oct 2013 and June 1, 2016. The income was secured by Casey when he no longer owned the rink.

✔ Approved From Our Partners

Protect and backup your data using AOMEI Backupper. AOMEI Backupper takes secure and encrypted backups from your Windows, hard drives or partitions. With AOMEI Backupper you will never be worried about loosing your data anymore.

Get AOMEI Backupper with 72% discount from an authorized distrinutor of AOMEI: SerialCart® (Limited Offer).

➤ Activate Your Coupon Code

In addition, Casey obtained about $145,000 in little enterprise financial loans for the rink organization 4 months right after he experienced bought it.

He was arrested on September 29 2020 and billed with laundering the proceeds of his fraud plan and with failing to incorporate the revenue from his fraud scheme on his 2014, 2015 and 2016 private federal tax returns. 

On Oct 21 2021, Casey pleaded guilty to 23 counts of wire fraud, a few counts of aggravated identity theft, four counts of funds laundering and three counts of submitting wrong tax returns. 

Casey admitted fraudulently acquiring pandemic reduction funding grants totaling hundreds of thousands of dollars by submitting at minimum 14 fraudulent loans apps to the Tiny Small business Administration. 

“Involving April 2020 and April 2021, somewhere around $676,552 in COVID-19 reduction money was deposited into bank accounts controlled by Casey, and he utilised the broad majority of the funds for own expenses, such as a 3-carat diamond ring, a six-thirty day period membership to Match.com, private faculty tuition, household rent payments, dwelling fees, payments on individual credit score card accounts, cafe meals, car or truck payments and luxury resort stays,” mentioned the US Attorney’s Office of the District of Massachusetts.

On Tuesday, 58-year-outdated Casey was sentenced to four a long time in jail and three a long time of supervised release. He was also requested to pay out $1,998,097 in restitution and was requested to forfeit $1,570,399.