Reliable, Dedicated Representation

  1. Home
  2.  » 
  3. Uncategorized
  4.  » Former Chase Power CEO and president indicted for wire fraud

Former Chase Power CEO and president indicted for wire fraud

On Behalf of | Jul 17, 2015 | Uncategorized

A jury recently indicted two former employees of Chase Power CEO on allegations of fraud. The mail and wire fraud charges stem from what prosecutors claim was inappropriate use of company funds. Their former employer — Chase Power — is perhaps best known for its attempt to build a failed Texas gulf power plant. 

As the former president and CEO of Chase, the two apparently had relatively easy access to various company funds. The indictment accuses the pair of using company money to purchase personal memberships to country clubs or to buy plane tickets for personal travel. It is believed that expense reports were used to hide these types of purchases.

Chase’s former CEO supposedly drew up and approved an invoice totaling $15,000 for company IT work that might have actually been used to upgrade the entertainment and security system at his own home. Although the indictment does specifically cite this incident, it does not indicate whether the company IT work that the invoice outlined was actually performed. However, prosecutors point out that the man also signed the check for his home expenses on the same day that he approved the IT invoice.

Both individuals will begin the trial court proceedings in August 2015. If convicted, the defendants stand to forfeit $1.3 million along with other possible consequences, including probation or even jail time. When facing criminal charges for wire fraud, most Texas defendants can benefit from carefully examining the details of the indictment and any related evidence that might be available. Doing so can help the defendant and his or her counsel determine whether the most appropriate course of action would be to fight the charges until the end of trial court proceedings or if a more favorable outcome could be achieved through a plea deal.

Source:, “Leaders of failed Texas power plant indicted for mail fraud“, Rachel Teague, July 11, 2015