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05/23/2022

Carmel man sentenced for wire fraud

WISHTV.com 8

HAMMOND, Ind. (Inside INdiana Business) — A Carmel man has been sentenced to seven years in prison after being convicted of wire fraud and conspiracy to commit securities fraud. U.S. Attorney Clifford Johnson’s office says George McKown and a partner defrauded investors of more than $5 million.

Court documents show McKown and his partner Richard Gearhart operated Asset Preservation Specialists between 2008 and 2013. The partners recruited more than 40 people to invest their savings, pensions, death benefits and IRAs and promised a return of 6% to 8% on their investments.

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