Brewery Founder Took $1.7 Million From Investors, Feds Say (1)

A craft brewery founder allegedly raised $2.7 million from investors to launch his business then pocketed around $1.7 million for personal use, according to a grand jury indictment filed in Utah federal district court.

Timothy Andrew Nemeckay promised Mine Shaft Brewing LLC investors returns of 8% annually, but didn’t always pay and used other investors’ money when he did, the indictment docketed Thursday in the U.S. District Court for the District of Utah said.

Mine Shaft Brewing and “Tim Nemeckay’s dedication to the company are fixtures in the Park City sports community,” Patricia Geary Glenn, a Park City based attorney ...