Former Wyoming Catholic College CFO Pleads Guilty To Wire Fraud

in News/Crime

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By Jim Angell, Cowboy State Daily

A man found guilty of bilking a financial firm out of almost $15 million pleaded guilty this week to allegations that he committed wire fraud in connection with the crimes.

Paul McCown, former chief financial officer for Wyoming Catholic College pleaded guilty on Tuesday to three federal charges filed in connection with the crimes against Ria R Squared. He also pleaded guilty to four more wire fraud charges filed in connection with allegations he sent false claims to the Wyoming Business Council to obtain more than $800,000 in federal funds.

McCown was ordered released on a $10,000 bond and sentencing was scheduled for June 17, when he could face a prison term of up to 140 years.

A federal judge earlier this month ruled in a civil lawsuit filed against McCown by Ria R Squared that McCown defrauded the company of $14.8 million in May 18.

According to the lawsuit filed by Ria R Squared, McCoon falsified financial documents and even posed as a bank official to convince the company to loan him $15 million in May 2021.

McCown transferred the bulk of the money to other people, including relatives, associates and Wyoming Catholic College, which received a $10 million anonymous donation that was later returned.

On Tuesday, McCown pleaded guilty to allegations he sent emails to Ria R Squared to transmit loan documents and then used wire transfers to take possession of the loan.

He also pleaded guilty to allegations he transmitted false information to the Wyoming Business Council to obtain $841,863 in federal Coronavirus Aid Relief and Economic Security Act funding, claiming his company lost money because of the coronavirus.

The money has since been returned.

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