US Charges Ousted Hollywood Executive With Defrauding Pandemic Loan Program, BlackRock Fund

Originally published:

Published:

NEW YORK—U.S. prosecutors have charged the recently ousted owner of a Hollywood movie distributor with defrauding a federal CCP virus emergency relief program and a BlackRock investment fund, including to pay for a Beverly Hills mansion and other luxuries.

Prosecutors said William Sadleir, 66, diverted much of the $1.7 million of loans he received on May 1 from the Paycheck Protection Program (PPP) for personal expenses.

He allegedly did this after falsely telling JPMorgan Chase and the Small Business Administration the funds were meant for his former company Aviron Group, which had terminated him in December and where he has no current role.

Epoch Times Photo

Epoch Times Photo

A sign hangs on One Chase Plaza in lower Manhattan, New York City, on Oct. 14, 2014. (Spencer Platt/Getty Images)

The PPP was meant “to help small businesses stay afloat during the financial crisis, and we will act swiftly against those who abuse the program for their own personal gain,” U.S. Attorney Nick Hanna in Los Angeles said in a statement.

Sadleir was also accused of having previously induced the closed-end BlackRock Multi-Sector Income Trust Fund to invest $75 million in Aviron to support its films.

Prosecutors said he then created a sham company to conceal his use of the money, and assumed the fake identity “Amanda Stevens” to communicate by email with the BlackRock fund about its investment.

In a related civil case, the U.S. Securities and Exchange Commission said Sadleir’s “lavish lifestyle” also included a $127,000 Tesla.

A lawyer for Sadleir could not immediately be identified. A BlackRock spokesman declined to comment.

Epoch Times Photo

Epoch Times Photo

A sign for BlackRock Inc hangs above their building in New York on July 16, 2018. (Lucas Jackson/Reuters)

Aviron’s films have included Halle Berry’s “Kidnap” and Matthew McConaughey and Anne Hathaway’s “Serenity.”

The BlackRock fund had $574 million of assets as of May 21, and normally invests most assets in debt and loans. It sued Sadleir for fraud in a New York state court in December.

Sadleir faces up to 124 years in prison if convicted on all charges.

By Jonathan Stempel

Epoch Times staff contributed to this report.

Share:

original post here

Click here to check out more news on this DLEM News Channel: ,

Enjoyed this content?
Then click here to subscribe to our Latest News!

Prefer video-content over text?
Then click here to go to our Endorsed Media Videos!
LinkTree
Decisive Liberty on Bitchute Decisive Liberty on Codias Decisive Liberty on Flipboard Decisive Liberty on MeWe Decisive Liberty on Parler Decisive Liberty on Subscribestar Decisive Liberty on Telegram Decisive Liberty on WWG1WGA Decisive Liberty on Facebook Decisive Liberty on Twitter


War Castles - Full Version

The presenter for this video is Sergent Robert Leroy Horton, U.S. Army Civil Affairs & Psychological Operations Command, trains U.S. Army Special Forces Green Berets.

Sargent Horton explains the inter-workings of our slavery to the Cabal and also touches upon the concepts of Quantum Language Parse Syntax Grammar, created by David-Wynn Miller and Russell-Jay Gould.

This is one of more than 200 videos on our Bitchute account that have received 340,000+ views - our bitchute account is now 1000+ members strong.


Previous and Next Available Post

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.