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Two Men Sentenced to Federal Prison for Fraud in Obtaining City Cable Franchise Subcontracts for Sham Minority Business

by Karen · Comments 0

CHICAGO—Two defendants who were convicted at trial earlier this year were sentenced today to federal prison for fraudulently running a sham minority-owned cable television installation business that obtained $8.3 million in subcontracts from a cable company that serves residents on the city’s north side. The defendants, Guy Potter and Matthew Giovenco, neither a minority, actually controlled and operated the now-defunct ICS Cable Inc., which they and others fraudulently disguised as a minority-owned business to obtain city-mandated minority sub-contracts under the lakefront cable franchise held by RCN Telecom Services of Illinois LLC.  For full story click here.

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