FBI: BCI Aircraft Leasing Inc. and Its Owner, Brian Hollnagel, Convicted in $50 Million Fraudulent Financing Scheme
Chicago, IL-(ENEWSPF)- A federal jury Wednesday convicted the owner of an aircraft leasing company and his corporation on fraud and obstruction charges for engaging in a fraudulent financing scheme that raised more than $50 million from investors and lenders, federal law enforcement officials announced Brian Hollnagel, 38, of Chicago, the owner, president, and chief executive officer of BCI Aircraft Leasing Inc., and the corporation itself were each convicted of six counts of wire fraud and one count of obstruction of justice for obstructing a Securities and Exchange Commission lawsuit against them. The jury deadlocked on a second obstruction count against Hollnagel and BCI, as well as on all three wire fraud counts against co-defendant Craig Papayanis, 51, of Moorpark, California, who held various positions at BCI, including managing director and chief financial officer. BCI bought, sold, and leased commercial airplanes and operated first in Naperville and later Chicago...
Comment.........This happened in Illinois. Guess who's home State that is? Don't you love it when they put the names of these scoundrels?
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