A former NFL player who became a real estate developer was indicted by a federal grand jury for embezzling loan proceeds intended for the development and construction of two commercial real estate projects.
According to the indictment, Christopher A. Harrison, principal of Maryland-based C.A. Harrison Cos., allegedly induced and misappropriated loan proceeds intended for the development and construction of two real estate projects – the Model Tobacco Project in Richmond, Virginia, and the Whitaker Park Project in Winston-Salem, North Carolina.
According to the indictment, Harrison allegedly secured loans from Cedar Rapids Bank & Trust for nearly $14.5 million for the Model Tobacco Project and $7.7 million for the Whitaker Park Project. Under the terms of the loan agreements, Harrison was prohibited from using loan proceeds to pay himself or affiliated entities any construction, management, development, or contractor fees or from using the loan proceeds for personal expenditures.
However, Harrison was accused of skimming loan proceeds by creating a straw demolition company and then allegedly creating forged and falsified documentation purporting to show the phony company worked on the projects. Harrison allegedly forged the signature of a separate individual, who Harrison falsely represented was the “president” of the phony company in his submittals to the bank. Harrison also is alleged to have doctored and inflated invoices in the name of a separate construction vendor for Model Tobacco, inducing the bank to disburse inflated loan amounts.
In total, Harrison allegedly submitted over a dozen falsified invoices and lien waivers in draw requests for $3.6 million in loan proceeds to Harrison to satisfy purported expenditures. Harrison reportedly used some of the money he stole for the following personal purchases and expenses.
Harrison is charged with wire fraud and mail fraud, which carry a maximum sentence of 20 years in prison; engaging in monetary transactions with criminally derived property, which carries a maximum sentence of 10 years in prison; and aggravated identity theft, which carries a two-year mandatory minimum prison term.
Harrison first gained prominence at the University of Virginia, where he was an offensive lineman on the football team. He played with the Detroit Lions from 1996 to 1998 and was with the Baltimore Ravens in 1999.
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He knew what he was doing was wrong. Youre an idiot. Do the the time MF.
Lock him up.
Throw him in prison
I used to work with him. Those around him had to have known this type of thing was happening, given how much he skimped out on at Model Tobacco. Paying for bottom of the barrel on everything there when it was supposed to be luxury, now it’s obvious he was pocketing the money that SHOULD have been used to make that property even livable. Shadey, shadey, shadey.
He was working his ass off and had every intention of fulfilling the deadlines and contracts. You have to remember the Construction Company is going to have a 10 or 15% hold back for a year after completion of the whole thing anyway.
How is the guy suppose to feed his family when he’s working 18 hrs a day.
Did he default on. the loans? Was he suppose to pay his crew with IOU’s? WTF
According to the construction plan, was he on time/? Did he have haters right out of the gate looking for a way to sabotage and bring him down? All valid questions that should be explored before the Salem Witch Trials start hanging people. . .