This story first appeared on Cowboy State Daily
A former chief financial officer for Wyoming Catholic College is accused in a federal lawsuit of running an elaborate scheme to defraud a New York asset management firm of $15 million.
Paul McCown is accused in a lawsuit filed in U.S. District court of falsifying financial documents and even posing as a bank official to convince Ria R Squared to loan him $15 million.
The lawsuit filed in late June said that within “hours or minutes” of McCown receiving the loan, he transferred most of the loan proceeds to other people — including relatives, associates and Wyoming Catholic College itself, which received an anonymous $10 million contribution through McCown’s actions.
“This is the story of a complex, calculated, methodical and fraudulent scheme, orchestrated by an individual holding a trusted and respected position with the Wyoming Catholic College, to defraud R…