Jabari Edwards is asking a federal judge to dismiss asset forfeiture claims against his businesses arising from his June arrest by the Federal Bureau of Investigation for wire fraud, conspiracy to commit wire fraud, money laundering and making false statements.
Edwards and his business partner, Antwann Richardson, were arrested in June for multiple charges relating to allegedly misusing more than $2 million in Paycheck Protection Plan and Economic Injury Disaster Loan program loans. The loan programs were intended to help maintain employment rates and assist businesses recovering from hardships as a result of the COVID-19 pandemic.
The FBI, as well as other state and federal agencies, raided J5’s headquarters in downtown Columbus on June 16.
On Oct. 6 Columbus attorney Wilbur Colom filed a motion to dismiss the forfeiture of assets on behalf of J5 GBL, J5 Solutions, Edwards Enterprises, The Bridge Group, BH Properties and Build Development Group, all companies owned by Edwards. The motion seeks to dismiss the forfeitures, not the charges against the businessmen.
As part of the federal indictment, bank accounts with Cadence Bank and Bank of Vernon connected to those companies were forfeited in addition to Court Square Tower and other real estate. Colom is arguing that, first, the “…operating accounts…were frozen, impeding their business interests and survival,” and, second, that the government can’t prove that questionable expenditures were actually made with the loan...
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