Summary

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.