CHICAGO – A St. Charles man admitted this week to bilking investors out of more than $1 million, among other fraud allegations.
Jason Hyatt, 36, pleaded guilty Monday in federal court to using money investors paid his company for his own personal use. He also admitted to bank and tax fraud charges.
Hyatt's firm – Downers Grove-based Hyatt Johnson Capital – collected funds from investors for a air craft leasing business between the spring of 2006 and February 2007, and Hyatt deposited about $1.5 million of that into his own bank accounts, said Randall Samborn, spokesman for the U.S. Attorney's Office.
Prosecutors also said that from 2003 to 2006, Hyatt tried to evade federal income taxes by either filing false returns or failing to file returns, resulting in a tax loss of about $1 million.
Then, in July 2007, he applied for a line of credit from Bridgeview Bank, giving false information, prosecutors said.
Hyatt was indicted in June 2008 and pleaded guilty just before the start of his trial. He remains out of jail on bail, awaiting a Jan. 28, 2010, sentencing hearing.
He faces a maximum of 30 years in prison, but could also be sentenced to probation, prosecutors said.
Hyatt's attorney Thomas Leinenweber could not be reached for comment Friday afternoon.
