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49M Bank Heist: Maryland Man Convicted of Bank Fraud
Baltimore, Maryland — In a stunning case of financial deceit, Mark Ian Gaver, a 56-year-old former business owner from Bonita Springs, Florida, has been convicted of bank fraud and money laundering in a scheme that bilked over $49 million from a federally insured bank.
Gaver, who previously resided in Middletown, Maryland, was found guilty of eight counts of bank fraud and two counts of money laundering by a federal jury after a 7-day trial.
According to the evidence presented at trial, Gaver formed Gaver Technologies, Inc. (GTI), an information technology company based in Frederick, Maryland in 1998. Between November 2008 and December 2016, Gaver submitted materially false financial documents to a federally insured bank, including fraudulent audit reports and contract status reports, in order to establish and to obtain successive increases in the line of credit from the lender for GTI.
The evidence showed that Gaver diverted a large portion of these fraudulently obtained funds to his own personal use, including the purchase of vacation homes, such as a 4,000 square foot condominium with a view of the Gulf of Mexico, and private planes that he used for non-business purposes.
Between August 2009 and December 2016, Gaver submitted Quarterly Contract Status Reports to the bank, which falsely represented that GTI had secured contracts with federal government agencies, such as the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), and the National Aeronautics and Space Administration (NASA), or that overstated the amount of GTI’s ongoing contracts with federal government agencies.
The evidence showed that some of the funds obtained from the lender were used by Gaver to cover regular business expenses and thereby keep GTI open, but Gaver also diverted half of the post-2009 loan proceeds – approximately $15 million – to his own personal use.
Gaver has been in custody since his arrest on November 15, 2017, when he entered the United States from Canada. The guilty verdict was announced by United States Attorney for the District of Maryland Robert K. Hur; Special Agent in Charge Gordon B. Johnson of the Federal Bureau of Investigation (FBI), Baltimore Field Office; and Special Agent in Charge Mark Higgins, Federal Housing Finance Agency, Office of Inspector General (FHFA-OIG), Northeast Region.
Key Facts
- State: Maryland
- Category: Fraud & Financial Crimes|White Collar Crime
- Source: DOJ Press Release â†â€â€
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