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August 10, 2007

Md. Businessman and Philanthropist Faces Fraud Charges

A Maryland businessman was indicted on Thursday of 21 counts of fraud involving $32-million, some of which was used to support a nonprofit group he created, reports the Baltimore Sun.

Alan Brian Fabian is accused of stealing money from investors and reporting false purchases for his company, Strategic Partners International.

The money was used to finance real estate and jet travel and to create his nonprofit group, the Center for Management and Technology. The center recently spent $3.9-million to set up a computer center in a Baltimore church.

A lawyer for Mr. Fabian said that his client was cooperating with the investigation and hinted that a plea deal could be in the works.

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