Skowhegan man pleads guilty to bank fraud charges

Nathan Reardon had previously pleaded not guilty.
Published: Jul. 5, 2022 at 12:08 PM EDT
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BANGOR, Maine (WABI) - A Skowhegan man who had been facing federal charges for alleged paycheck protection program fraud pleaded guilty on Tuesday to some of the charges against him.

Nathan Reardon, 44, is accused of obtaining a nearly $60,000 loan early in the pandemic intended for business and payroll expenses.

Instead, authorities say he used much of it for personal expenses.

Reardon had previously pleaded not guilty.

Tuesday, he pleaded guilty to five counts of bank fraud.

As part of his plea deal, all other charges will be dismissed after his sentencing.

”We think this is a fair and just result that followed a significant thorough federal criminal investigation, and we look forward to Mr. Reardon being sentenced to an appropriate sentence,” said Andrew Lizotte, assistant U.S. attorney, Maine.

“Mr. Reardon was ready to accept responsibility for the mistakes he made and for the loan applications and hoping to put this behind him and get back to his family as soon as possible,” said Reardon’s attorney Hunter Tzovarras.

As part of the plea, Reardon also agreed to waive his right to appeal his sentence unless it it more than a year and a day.

The judge will issue a sentencing decision at a later date which will most likely include an order to pay the government back.

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