Former Wyoming Catholic College CFO charged in massive fraud

[TexasTowelie]

Note: This article was published on March 13. I'm posting it due to the importance of the story.


Federal prosecutors have charged the former chief financial officer for the Lander-based Wyoming Catholic College with defrauding a government COVID-19 business relief program, the Wyoming Business Council and a New York investment firm out of millions of dollars by falsely claiming that he had amassed a fortune in a booming gin distillery and hand sanitizer business.

According to court documents filed this week, Paul D. McCown, 35, waived indictment and agreed to plead guilty to some or all of the seven counts of criminal wire fraud. Each count has a maximum penalty of 20 years in prison and a $250,000 fine.

A plea hearing has been set for March 29 in Casper before U.S. District Judge Scott W. Skavdahl.

Since it first surfaced as part of a $15-million civil lawsuit against McCown by the New York financial firm Ria R Squared, the McCown case has rocked the Lander business community and embarrassed the tiny Catholic college that once prided itself in not accepting federal or state government funds.

Most of the $14.7 million he received in a loan from Ria R Squared has been seized by the Federal Bureau of Investigation. Hours after McCown received the Ria R Squared money he redistributed the bulk of it as an anonymous $10 million donation to the WCC and gave $375,000 each to his friend, WCC vice president Jonathan Tonkowich and to a brother, Phillip McCown, according to court filings.

Read more: https://wyofile.com/former-wyoming-catholic-college-cfo-charged-in-massive-fraud/