Convicted Embezzler Faces 3 Additional Charges 10-25-2010 - WNEM TV 5

Convicted Embezzler Faces 3 Additional Charges 10-25-2010

Three additional charges were levied Monday against the man already at the center of a state tax credit.
Richard A. Short, who's a convicted embezzler, was approved to receive more than $9.1 million in state tax credits for his business back in March.
His business, called Renewable and Sustainable Companies, or RASCO, was to use the tax credits to build a company headquarters that would house research and development in Flint.
Officials said Short planned to get investors' money by using the tax credits as bait.
The project was expected to create 1,813 new jobs, including 765 directly with the company.
A state investigation soon revealed his criminal past and Short never received any money.
However, Genesee County Prosecutor David Leyton says looking into Short’s background sooner would have been simple to do.
"I do not believe after reviewing this investigation that the proper checks and balances were in place or followed," Leyton said.
Leyton announced the new charges, which included racketeering and false pretenses over $20,000, during a news conference Monday morning.
Corrections records showed Short was convicted in 2002 of embezzling money from Harding Energy Inc. of Norton Shores. He was also convicted in Muskegon County for embezzlement of a battery manufacturer and convicted in Oakland County for obtaining money under false pretenses.
Short is currently in jail on felony fraud charges, accused of stealing from an elderly neighbor.
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