The creator and operator of software company CommuniClique will serve a 12.5 year prison sentence for defrauding investors after the Fourth Circuit rejected his plea to toss his conviction and sentence Wednesday.
Andrew Powers challenged the choice of venue and the length of his sentence under the fraud guidelines in his arguments before the US Court of Appeals for the Fourth Circuit. Powers allegedly misled investors about CommuniClique’s annual revenue, falsely said the company had clients and partners that included FedEx and Uber, and used investor money to buy cars, pay credit card bills, and pay for rent.
The federal ...
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