Pennsylvania Man Charged With Defrauding Lending Company Of More Than $400,000
NEWARK, N.J. – The president of a staffing company was arrested this morning for allegedly used phony invoices and time cards to defraud a commercial finance lending company of $400,000, U.S. Attorney Craig Carpenito announced.
Jeremy Hare, 47, of Philadelphia, is charged by complaint with one count of wire fraud. He is scheduled to appear this afternoon before U.S. Magistrate Judge Leda Dunn Wettre in Newark federal court.
According to the complaint:
Hare was the president and managing member of Apollo Search Partners LLC, a staffing agency with an office in New Jersey. The victim company was a commercial finance lender that offers funding to companies in order to meet payroll and other obligations.
On June 16, 2017, Hare had Apollo enter into a financing agreement with the victim company. In order to get funding, Apollo would provide the Victim Company invoices and supporting time cards for each person Apollo staffed with a client. Approved clients were supposed to submit payment to the victim company.
However, between June 20, 2017 and Aug. 15, 2017, Hare submitted more than 15 invoices to the victim company even though Apollo never staffed most of the individuals listed on the invoices and the time sheets submitted with the invoices included hours that were never worked.
In response to the invoices, the victim company provided funding of approximately $400,000 to Apollo between June and August 2017. To date, the victim company has not received reimbursement for the money it funded Apollo in response to the phony invoices.
The wire fraud charge is punishable by a maximum potential penalty of 20 years in prison and a $250,000 fine, or twice the gross gain or loss from the offense.
The charge and allegations contained in the complaint are merely accusations, and the defendant is considered innocent unless and until proven guilty.
U.S. Attorney Carpenito credited special agents of the FBI, under the direction of Special Agent in Charge Gregory W. Ehrie in Newark, with the investigation leading to today’s arrest. He also thanked special agents of the FBI in Philadelphia for their assistance in this case.
The government is represented by Assistant U.S. Attorney Andrew Kogan of the U.S. Attorney’s Office Cybercrime Prevention and Enforcement Unit in Newark.