On Tuesday, it was announced that a Los Angeles, California man had been arraigned on sixteen counts of wire fraud. 58-year-old Michael D. Towner served as the president of Foundation Consultants Corporations and the Towner Corporations. Both companies provided marketing support to The Dream Foundation, according to the indictment.
The Dream Foundation is a nonprofit created to design and market a specialty license plate in Florida. Under Florida law, companies responsible for marketing specialty license plates can receive a maximum of 25% of the total funds made from the sale of the license plates. The indictment alleged that between July 2010 and November 2015, Towner agreed to make payments to Foundation Consultants Corporations and the Towner Corporation in excess of the 25% limit.
The indictment claims that the defendant caused the transfer of more than $250,000 over the limit to be made to the two companies. Towner is also accused of falsifying annual reports regarding the amount of money distributed to the charities supported by the Dream Foundation.
Towner’s trial is scheduled to begin on December 11, 2017 at 8:15 AM. A single wire fraud charge carries a maximum penalty of 20 years in prison. At this point in time, the defendant remains innocent until proven guilty beyond a reasonable doubt in a court of law.