Visit Dothan CEO Charged With Bank Fraud
DOTHAN, Alabama (WTVY) – Visit Dothan’s general manager has been indicted by a federal grand jury with a bank fraud charge related to an Iowa music festival.
Aaron McCreight, 46, is among two men accused of providing false information to a bank in Cedar Rapids to secure a loan for the three-day event, NewBo Evolve, which failed in 2018.
McCreight, then CEO of GoCedarRapids and the travel group’s chief financial officer, Doug Hargrave, are each charged with one count of bank fraud. The charges were laid in Cedar Rapids U.S. District Court Tuesday.
Documents claim that McCreight and Hargrave defrauded the bank by misrepresenting Newbo Evolve ticket sales, projected income, projected expenses and the actual amount of expected losses.
A few months later, Go Cedar Rapids, in debt of $ 2.3 million, withdrew and McCreight headed south to Dothan.
Despite his legal issues, Visit Dothan’s board is backing McCreight, though he apparently plans to plead guilty to the prosecution and faces 30 years in prison.
“The Visit Dothan Board of Directors recently met and voted unanimously to retain Aaron McCreight as President and CEO. The board of directors made the decision after careful consideration of the current facts and circumstances surrounding the 2018 music festival event held during his tenure at Go Cedar Rapids in Cedar Rapids, Iowa, where Aaron has now acknowledged his guilt, expressed remorse and a federal judge will rule on a punishment for him in the near future, ”Visit Dothan’s board said in a statement.
Copyright 2022 WTVY. All rights reserved.
Subscribe to our News 4 newsletter and get the latest local news and weather delivered straight to your email every morning. Get instant notifications on top News 4 stories by downloading our mobile app.