Jury finds Anchorage print shop owner guilty of fraud

Posted: Wednesday, February 13, 2002

ANCHORAGE - A jury declared Nezar "Mike" Maad guilty of federal fraud charges Tuesday following nearly a week of testimony in the Anchorage businessman's trial.

Maad was found guilty of two counts of falsifying loan applications, one count of wire fraud and two counts of making false statements to the government. The charges involved his now-closed Frontier Printing Services.

Maad, 43, faces a maximum penalty of 75 years in prison and fines totaling $2.75 million. His sentencing is set for May 9.

Maad and his wife, Joanne, received widespread community sympathy after someone damaged equipment at their print shop and wrote "We hate Arabs" on a wall soon after the Sept. 11 attacks.

No charges have been filed, but assistant U.S. attorney Dan Cooper said Tuesday the Maads are among the suspects in the case.

The fraud case emerged while the FBI was investigating the property damage.

During the trial in U.S. District Court, Cooper said Maad lied about his finances to get a $242,000 loan.

Federal defender Rich Curtner said Maad never intended to mislead anyone. He blamed the discrepancies on carelessness and a lack of accounting savvy.

After the verdict was read Tuesday, U.S. District Judge James Singleton Jr. let Maad remain free on the condition he be monitored electronically and remain at home.

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