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Investigations

Date

New Hampshire Man Sentenced for Falsely Obtaining Surety Bonds

On May 21, 2013, Nazar Lopushansky, owner, Engelwood Construction Company, Inc., was sentenced in U.S. District Court, Concord, New Hampshire, to one year and 1 day in prison, 2 years probation, assessed a special assessment of $600 and ordered to pay $253,585.62 in restitution. 

Lopushansky caused a certified public accountant to create a financial statement that falsely increased Engelwood's cash assets by $450,000. Lopushansky used the fraudulent financial statement to obtain bonds required for four state and local contracts, including one that was federally-funded. To acquire these bonds, Lopushansky provided copies of the fraudulent financial statement to Bond Safeguard, a bond company in Tennessee.

We investigated this case with the United States Postal Inspection Service.