AP NEWS

Staffing company president admits cheating lending company

September 28, 2018

CAMDEN, N.J. (AP) — A Pennsylvania man who led a New Jersey-based staffing company has admitted cheating a commercial finance lending company out of more than $400,000.

Federal prosecutors say 47-year-old Jeremy Hare, of Philadelphia, pleaded guilty Friday to wire fraud. He now faces up to 20 years in prison when he’s sentenced Jan. 4.

Hare was the president and managing member of the firm that entered into a financing agreement with the lender, which provides funding to companies so they can meet payroll and other obligations.

Apollo provided the lender with invoices and supporting time cards for each person it staffed with a client. But prosecutors say the firm never staffed most of the people listed on the invoices and the time sheets submitted with the invoices included hours that were never worked.

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