Columbus business partners Jabari Edwards and Antwann Richardson both pleaded not guilty Wednesday to a string of federal charges related to a $2 million fraud scheme.
The men entered their pleas during an arraignment in federal court in Oxford. Edwards, represented by Columbus attorney Donna Smith, and Richardson, represented by Tupelo-based lawyer Victor Fleitas, appeared before U.S. Magistrate Judge Roy Percy, according to court documents.
Edwards is the founder of J5, and Richardson is the president. Last week both were arrested as part of an investigation by the Federal Bureau of Investigation, which also raided the J5 office in downtown Columbus.
They are charged with conspiracy to commit wire fraud, wire fraud and money laundering. Edwards is also charged with making a false statement. If convicted, they could both face up to 30 years in federal prison.
A trial date of July 25 has been set before United States District Judge Sharion Aycock in Oxford. Plea agreement must be submitted by July 11, according to court documents.
According to the indictment, the men allegedly received federal Paycheck Protection Plan funds and Economic Injury Disaster Loan Program funding for a company that they no longer owned. The money was used to buy Court Square Towers; for personal real estate transactions; political contributions; charitable donations; loan payments for vehicles; and lump sum payments to friends, family members and employees of their other companies.
Edwards serves on the Mississippi Business Finance Corporation Board, which is responsible for administering incentive programs to assist businesses in obtaining development and expansion loans. He is also a board member at Columbus Light and Water.
Brian Jones is the local government reporter for Columbus and Lowndes County.
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