A Porterville businessman is in court for defrauding investors with promises of building dairy digesters throughout California and Idaho. Ray Brewer pled guilty on Monday to wire fraud, money laundering and identity theft, according to the U.S. Attorney's Office for the Eastern District of California.
Brewer allegedly forged contracts with mulitinational companies and with dairy owners, while presenting false bank agreements indicating he had obtained millions of dollars in loans. He even toured the dairies with investors before pocketing their money, according to the investigation. The investors were to receive 66% of all profits along with tax incentives.
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When investors discovered the fraud, Brewer fled to Montana and assumed a new identity. Following his arrest, he now faces up to 20 years in prison and $750,000 in fines.
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