ATTORNEY'S OFFICE OF FLORIDA: Winter Park Man Charged With Over $8 Million In Fraud

By Press release submission | Feb 18, 2019

U.S. Attorney's Office for the Middle District of Florida issued the following announcement on Feb. 13.

United States Attorney Maria Chapa Lopez announces the unsealing of an indictment charging Bryan L. Brewer (43, Winter Park) with six counts of wire fraud, four counts of bank fraud, and four counts of money laundering. If convicted, Brewer faces a maximum penalty of 20 years in federal prison for each wire fraud count, up to 30 years’ imprisonment for each bank fraud count, and up to 10 years in prison for each money laundering count.

According to the indictment and information presented in court, Brewer engaged in two fraudulent schemes totaling more than $8 million. In one scheme, Brewer solicited an individual to invest in a company that manufactured paddleboards by the name of USBoardco (also known as WatersEdge). As part of the scheme, Brewer sent the victim copies of bank statements, tax returns, and other financial documents that had been falsified to inflate the sales, profits, income, and bank account balance for the company. In reliance upon those and other misrepresentations, the victim invested over $1 million.

The second scheme involved real estate located in Seminole County, wherein an individual loaned over $4 million to assist Brewer in the purchase of the property in 2012. In return, that individual obtained a mortgage on the property. Brewer later requested a bank to lend money to one of his companies, with the understanding that it would be secured by a mortgage on the same property that was already mortgaged. To induce the bank to make the loan, Brewer set up a false email account for the individual, who had loaned the money in 2012, which was then used to send the bank a forged letter falsely promising that the individual would release his mortgage for $3.5 million. Relying upon that letter and other misrepresentations, the bank loaned one of Brewer’s companies more than $7 million.

Original source can be found here.

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