Kansas City developer sentenced in money laundering and bank fraud case
A Kansas City man found guilty of defrauding a financial institution of over half a million dollars was sentenced Wednesday to less than two years in prison.
Maximillian D. Howell, 44, was sentenced to 21 months in prison for bank fraud and money laundering after stealing over $600,000, Dave Ketchmark, executive assistant U.S. Attorney, said in a news release.
Several of Howell’s development projects were funded from reimbursement-based lines of credit, called draws, from the financial institution and Kansas City’s general fund. To get the draws, Howell had to describe the work needed to be completed and the amount owed — something he did numerous times, according to Ketchmark.
He was found guilty of executing and presenting false and fraudulent draw requests and lying about incurred costs to fund his development projects
The case was investigated by the U.S. Department of Housing and Urban Development (HUD) and the Office of the Inspector General because Howell funded several development projects with grants obtained from HUD, according to Ketchmark.
Howell was ordered to pay around $230,000 in restitution to the financial institution and forfeit around $88,000. He is set to self-surrender on May 27.
