Lang
2/16/23
former leaders of GO Cedar Rapids…the defunct group which put on the failed NewBo Evolve festival in 2018….have been sentenced to less than two years in prison each for bank fraud. That’s 1/15th of the maximum possible sentence.
Former GO Cedar Rapids President and CEO Aaron McCreight was given an 18 month sentence, while former finance director Doug Hargrave was sentenced to 15 months behind bars.
McCreight was the tourism president and CEO for Dothan, Alabama before submitting his resignation from the city staff following his sentencing. He reportedly admitted to defrauding Banker’s Trust by grossly overstating the number of advance tickets sold to concerts with Maroon 5 and Kelly Clarkson, and the amount of money from corporate sponsorships for the event. Those fraudulent figures were submitted to Banker’s Trust to get an increase in their loan.
The event lost $2.3 million. GO Cedar Rapids couldn’t make good on the $800,000 promised to vendors or the loans. Banker’s Trust fired its local president shortly after the fraud was discovered.
Hargrave and McCreight had faced maximum sentences of 30 years each.