- Associated Press - Wednesday, September 30, 2015

DENVER (AP) - A Lone Tree man accused of taking $4 million from a government small business program and falsifying his taxes has been sentenced to six months in prison.

The Denver Post reports (https://dpo.st/1FH5h7F ) that Hemal Ramesh Jhaveri was sentenced Tuesday for fraud. He was also ordered to pay a fine of $250,000 and serve two years on supervised release. He has already paid restitution of almost $1.2 million.

Prosecutors say that Jhaveri diverted money from his company SofTec Solutions Inc. to other bank accounts in order to keep his net worth below $750,000 in order to remain in Small Business Administration programs. He is accused of siphoning off more than $17 million.

Jhaveri will not begin his sentence until April because his daughter is scheduled for surgery in January.


Information from: The Denver Post, https://www.denverpost.com

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