Massachusetts Mayor Indicted for Alleged Wire Fraud, Filing False Tax Returns

A Massachusetts mayor who was elected at the age of 23 was arrested Thursday after allegedly using investors’ money to fund his “lavish lifestyle,” political campaign, and pay off student loan debt, according to the Justice Department. Fall River Mayor Jasiel Correia was indicted on nine counts of wire fraud and four counts of filing false tax returns after he collected $363,690 from investors to develop an app that would connect local merchants with customers. The DOJ alleges that Correia took at least $231,447 of that money and spent it on other business ventures, his political campaign, and charitable donations in his name. He also allegedly spent tens of thousands of dollars on luxury items, including clothing, casino visits, and adult entertainment. Correia allegedly concealed his fraud by providing investors with “false positive updates” on the app, refusing to provide company financial records, and lying to the IRS. When he announced his candidacy in 2015, Correia marketed himself as a qualified mayor with tech company experience, despite allegedly knowing his company was “floundering.” According to Boston.com, Correia pleaded not guilty in court Thursday and said he would “absolutely not” resign from his post.