Breaking News Bar
updated: 4/7/2013 7:44 AM

2 businessmen convicted of fraud for security minority work contracts

hello
Success - Article sent! close
 
Associated Press

Two businessmen have been convicted of fraud after prosecutors say they tried to secure minority contracts.

According to testimony, 43-year-old Matthew Giovenco of Grayslake and 66-year-old Guy Potter of Versailles, Ky. hired a black student and his mother to act as fronts for ICS Cable. They secured subcontracts from RCN Cable, which was required by the city of Chicago to give business to women or minority-owned contractors.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

The Chicago Sun-Times reports during the federal court trial, defense attorneys tried to pin the fraud on the mother, Cherrone Mayes. They alleged she hatched the scheme and then cooperated with the government.

But prosecutors say Mayes made $17,000 from the scheme, while Potter made $1.3 million and Giovenco made $800,000.

The two each face up to 20 years in prison.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.