Wheeling computer firm exec due in court on fraud charges

A man who was a top executive of a now-bankrupt Wheeling computer company will be in federal court in Chicago today, facing charges in an alleged $17 million bank fraud scheme, authorities said.

Kevin M. Gore, 40, formerly of Chicago, was arrested earlier this year in the Philippines and has been returned to Chicago. He will be in federal court for an arraignment today.

Gore had been the chief operating officer of Computer World Solution Inc. in Wheeling. He and co-defendant Noel Yuan, the company's founder and president, allegedly swindled Fifth Third Bank out of more than $17 million by fraudulently obtaining money through a revolving line of credit. Yuan, 53, formerly of Northbrook, pleaded guilty to two counts of bank fraud in December 2008 and is in custody awaiting sentencing.

Computer World Solution, which imported consumer electronics, went bankrupt in November 2007. Just before the bankruptcy, Gore left the United States and was traveling throughout Asia until his arrest in February.

Gore was first charged in a criminal complaint in 2008 and was indicted this past March on three counts of bank fraud.

He is being held without bond and will appear in federal court at 9:20 a.m. today, before U.S. District Court Judge Joan Gottschall.

The indictment alleges the two committed the fraud between March 2005 and September 2007. By January 2007, their borrowing limit had increased to $20 million. The line of credit was secured by the company's accounts receivable, and Gore created certificates with falsely inflated figures and then Yuan signed them and submitted them to Fifth Third, authorities allege.

Each count of bank fraud carries a maximum penalty of 30 years in prison.