FBI arrest businessman of Albanian HPP

10/08/2011 10:45

FBI has arrested the US businessman that operated in hydropower plant
construction in Albania. FBI declared that Paul John McMann, a 52 year
old from Weston, Boston, has been arrested a few days ago in Cyprus,
where he was hiding.

FBI had issued an international arrest order on wire fraud charges with a value of 1.6 million USD. The businessman who led the company “Commonwealth Albanian Hydro Ventures, Inc”, is accused of forging bank documents for receiving a loan of 450,000 USD. “Shqip” newspaper says that FBI has announced that on 10 November 2010, Paul John McMann, 52-year-old, received three charges for wire and real estate fraud.

McMann stayed far from USA until he was arrested on 10 July 2011, in Cyprus, by the local authorities, in respond to a request released by Interpol. Cyprian authorities brought him at Marshall Center USA on August 4th. On August 10th he is expected to appear in tribunal in front of the judge Boal Jennifer C. According to the official declaration, McMann has registered “Commonwealth Albanian Hydro Ventures, Inc.” on July 2008. This is the company that he used for convincing banks to loan him money on fake documents.

Investigators also accused the businessman of using forged documents in November 2008 in Bank of America and Vakovia Bank, on behalf of the company “Commonwealth Albanian Hydro Ventures, Inc.” for profiting a great loan in cash.

With the 450,000 loan taken by the forged documents, McMann wanted to persuade another creditor to whom he owed 1.6 million USD for not seizing some developed real estates that belonged to him. According to the FBI, Mcmann risks 20 years in prison that will be followed by three years in parole, and a fine of 250,000 USD, or twice the damage caused by his fraud. FBI warns that all citizens who think that they might have been deceived by this US citizen can contact the Office of the US General Prosecutor in the e-mail: USAMA. [email protected].

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