The primary Mainer accused of fraudulently acquiring a Paycheck Safety Program mortgage, supposed to assist companies pay staff and different bills throughout the early days of the pandemic, will plead responsible to financial institution fraud costs Tuesday in U.S. District Court docket in Bangor.
Nathan Reardon, 44, of Skowhegan and Plymouth pleaded not responsible in Might 2021 to 5 counts of financial institution fraud, three counts of tried wire fraud, two counts of constructing false statements to a financial institution and one depend of perjury after being indicted by a federal grand jury.
He obtained a $60,000 PPP mortgage in 2020 by allegedly falsifying details about payroll for his enterprise. Based on court docket paperwork, Reardon spent the cash on private objects together with a males’s 14-carat yellow gold marriage ceremony band, clothes, shaving merchandise, toys, an LED barber pole mild and a pair of caiman pores and skin cowboy boots, a court docket affidavit stated. Caimans are a species associated to alligators present in Central and South America.
In a plea settlement with the U.S. legal professional’s workplaces, all costs however the financial institution fraud counts will likely be dismissed after Reardon is sentenced later this 12 months, in accordance with court docket paperwork filed Saturday. Reardon waived his proper to attraction his sentence to the first U.S. Circuit Court docket of Appeals in Boston whether it is longer than a 12 months and a day.
Reardon additionally is predicted to be ordered to pay the federal government about $90,000 in restitution for the $60,000 that was authorized and the $30,000 that was by chance transferred to his checking account after a second mortgage of $60,000 was denied.
Jury choice in Reardon’s trial on the costs was set to be Tuesday. The 2-week lengthy trial was scheduled to start July 11. Reardon had sought to have the trial continued till September however U.S. District Court docket Choose Lance Walker denied that movement on Thursday.
The choose beforehand denied motions to transfer the trial from Bangor to Portland and to launch Reardon after his bail was revoked in April of this 12 months. He remained Sunday on the Hancock County Jail.
The Bangor Each day Information printed a collection of articles earlier this 12 months about Reardon and his wrestle with Bangor metropolis officers that led the town to sentence a portion of the Bangor Mall.
The protection additionally centered on Reardon’s enterprise practices and the character of his sprawling enterprise empire that features dozens of firms, a path of debt to almost 100 former staff, and $100,000 in fines for labor violations along with the federal fraud case.
The protection highlighted Reardon’s observe file as a property supervisor renting out residences to tenants as properly.
Reardon sued the BDN over its protection in April, alleging defamation, and he sued one other information outlet, Information Heart Maine, late final 12 months. The lawsuit towards the tv station was dismissed final month. The lawsuit towards the BDN is pending in Penobscot County Superior Court docket.
Along with the federal costs, Reardon has been charged in Somerset County with Class B theft for allegedly refusing to pay $22,000 in payments for renovation work on a business property to plumbers, carpenters, electricians, development staff and laborers.
The utmost penalty in that case is 10 years in state jail and a fantastic of as much as $20,000. He additionally could possibly be ordered to pay restitution in that case.
Correction: A earlier model of this story misstated the standing of the lawsuit Nathan Reardon filed towards Information Heart Maine. That lawsuit has been dismissed.
