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Former Frederick business owner accused in $50M schemeBy CAMERON DODDcdoddlalnewspost.comBALTIMORE — fury deliberations began Tuesday in the trial of a former owner of a Frederick-based technology company accused of a $50 million bank fraud scheme.Mark Ian Gaver, the former owner of Gaver Technologies Inc., faces eight counts of bank fraud and two counts of money laundering in U.S. District Court for the District of Maryland. Gaver's trial has lasted seven days so far.Gaverand 2016, Gaver used more than 100 falsified financial records to repeatedly apply for and receive an extended line of credit from Santander BankProsecutors assert that Gaver spent $15 million of the credit on personal expenses, real estate, vacations and luxury cars. Gaver hired private jets for trips to Mexico, the Bahamas and Europe, and bought a Mercedes-Benz and a Maserati.He used the Santander line of credit as his personal piggy bank, Assistant U.S. Attorney lef-In closing arguments frey Izant said.Tuesday, prosecutors for Gaver used the rest of the the U.S. Attorney's Officeargued that between 2008 (See GAVER A6)
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The Frederick News Post
Frederick, Maryland, US
Wed, Aug 01, 2018
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USA 19 May 2025
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