Former Springfield Business Owner Charged In Fraudulent Loan Scheme | USAO-MDTN

NASHVILLE – A federal indictment was unsealed today, charging Chad William Rudicel, 52, formerly of Springfield, Tennessee, with seven counts of wire fraud, one count of mail fraud, and two counts of aggravated identity theft, announced Acting U.S. Attorney Mary Jane Stewart for the Middle District of Tennessee.  Rudicel was arrested by FBI agents at him home in Largo, Florida, earlier this morning. 

According to the indictment, Rudicel owned Ellis & Rudicel Welding (E&R), a steel fabrication and welding company located in Springfield, Tennessee.  In the summer of 2015, Rudicel offered to purchase Brown’s Welding and Steel Services / Brown Cliff Crane (Brown’s Welding), another steel welding and fabrication business.  The owner of the business gave Rudicel access to the books and records of the business so that Rudicel could have the business appraised.  Rudicel never actually purchased Brown’s Welding but instead, in the spring of 2016,…

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