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Man found guilty in 150 trillion fraud caseBy JEREMY ARIASjariasPnewspost.comThe former owner of a Frederick-based technology company was convicted Wednesday on all counts related to a $50 million bank fraud scheme.In total, 56-year-old Mark Ian Gaver, the former owner of Gaver Technologies Inc., was found guilty of eight counts of bank fraud and two counts of money laundering in U.S. District Court for the District of Maryland. Between November 2008 and December 2016, Gaver used fake financial documents to secure an increasingly large line of credit from Santander Bank, according to authorities.Prosecutors with the U.S. Attorney's Office for the District of Maryland accused Gaver of diverting $15 million to buy a $2,275 million vacation home, a 2012 Mas erat i GranTur is mo, a 2011 Mercedes-Benz SL Roadster, $779,000 in private plane rentals and trips to the Bahamas, Europe and Mexico, among other things.James ]. Zonas, Gaver's defense attorney, suggested during the seven-day trial that the fraud could have been committed by Jeff Arendt, a longtime employee who worked in GTI's Maryland office,referring to Gaver as a hands-off business owner, according to a previous story in The Frederick News-Post.Reached for comment after Wednesday's verdict, Zonas said he still believes there were several inconsistencies in the prosecution's case, but overall he said the trial was fair.The judge and the prosecutors are very fair people, and he had a shot at it because they deliberated for two days, Zonas said. For the jury to stay out that long, they definitely gave it a good look.Gaver has the right to appeal the decision, but Zonas said his firm, Schwartz Zonas, would likely not handle an appeal.He may retain other counsel for that, but it's his decision, Zonas said.Gaver was arrested on Nov. 15, 2017, when he entered the United States from Canada and has remained in custody since then, according to a release announcing the verdict.Gaver faces a maximum sentence of 30 years in prison for each of his eight bank fraud comictions, as well as 10 years for each of his two money laundering charges, the release states. Sentencing was set for 10 ami. Nov. 1.Follow Jeremy Arias on Twitter:@Jarias_Prim e.Gaver
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The Frederick News Post
Frederick, Maryland, US
Thu, Aug 02, 2018
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USA 19 May 2025
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