Patrick J. Harrington, former executive vice president of the now defunct Business Loan Express is facing charges that he, along with 18 others, defrauded the Federal government of $76.8 million in small business loans. Taxpayers (that's you and me) are likely to end up paying the tab. Harrington's indictment, issued last month was unsealed earlier this week.

The Detroit Free Press has more on the scheme, and their article alludes to six earlier indictments involving Harrington that lead into the current investigation and pending prosecution. While Harrington's attorney is claiming that his client is taking more than his share of the blame, the U.S. Secret Service and the Inspector General's Office of the Small Business Administration have i.d.ed Harrington as the common denominator is all six indictments.

-- MDT

Labels: BLX, Fraud, Patrick Harrington, Small Business Administration