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Home > Blogs > Butler County News and Issues > Archives > 2009 > July > 28 > Entry
Prosecution: Carter ‘lied and cheated’ as Dynus owner
Prosecutors in the trial of Orlando Carter tried to portray him this morning, July 28, as another example of a unscrupulous businessman trying to live above his means at the expense of his company.
U.S. Attorney outlined the charges against Carter in U.S. district court this morning, telling a story of shady business deals that eventually led his company Dynus Corp in ruins and caused the downfall of a county auditor.
The company’s eventual collapse in 2005 left roughly 60 people out of work.
Carter is fighting an 11-count indictment, including charges of bank fraud. He is accused of misrepresenting his income to secure a $1.2 million home, misleading banks about business deals with Butler County and lying on a bankruptcy petition.
“It all sounds very complicated, but in reality it is quite simple,” U.S. Attorney Richard Chema said. “The evidence is going to show that this defendant lied and cheated in his personal and business lives to get what he wanted.”
Carter’s defense team will outline his defense this afternoon.
Part of the charges against Carter include working with other Dynus officials to secure a $4 million loan from National City Bank in Butler County’s name without county approval and using that loan to substantiate another multi-million dollar loan from Fifth Third Bank.
At the same time, prosecutors say he reported his income at $475,680 in 2004 to get a home loan for his Maineville “mansion,” while his actual tax filing for that year was $100,850.
Bank fraud and conspiracy to commit bank fraud are the most serious charges against him, carrying up to 30 years imprisonment.
The trial before U.S. Judge Sandra Beckwith is expected to last three weeks.
Former auditor Kay Rogers, who resigned after pleading guilty to bank fraud in relation to the deal, has been alerted she may be called as a witness, according to her attorney
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