<http://schema.org/articleBody>
"The FBI, IRS and the U.S. attorney's office have announced new indictments in the Kenwood Towne Place project.At a Friday news conference, officials said Bear Creek Capital managing director Matt Daniels, 48, is facing multiple charges.Prosecutors said Daniels was charged with conspiracy and fraud for telling a lender that money was being used to develop Kenwood Towne Place, but actually diverting the proceeds to other uses, including his own pockets.The 25-count indictment includes one count of conspiracy to commit bank fraud, one count of bank fraud, seven counts of mail fraud, seven counts of wire fraud, eight counts of money laundering and one count of obstruction.The indictment alleges that Daniels committed money laundering by transferring approximately $2,835,161 in funds derived from the bank fraud out of an account held by Bear Creek Capital to either himself or other business entities.\u201CThis indictment is a result of nearly three years of painstaking investigations by agents and analysts of the FBI and IRS, Deputies of the Hamilton County Sheriff\u2019s Office, and attorneys and staff of the U.S. Attorney\u2019s Office,\u201D stated FBI Special Agent in Charge Edward J. Hanko in a news release.\u00A0 \u201CIt is a true testament to what can be accomplished when agencies commit to working together to ensure justice is done for the citizens of Ohio.\u201DConspiracy to commit bank fraud, bank fraud, mail fraud, and wire fraud are punishable by up to 30 years in prison. Money laundering is punishable by up to 10 years in prison, and obstruction is punishable by 20 years in prison.The multi-story office/business project alongside Interstate 71 has sat uncompleted for years.The chief financial officer of the project, Tina Schmidt, is already accused of funneling money from the project into her personal bank account.She pleaded not guilty to charges of bank fraud."^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.wlwt.com/article/prosecutors-kenwood-towne-place-developer-diverted-2-8m/3526770>