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Glens Falls computer company owner charged with loan fraud

2012-11-28T09:41:00Z 2012-11-28T16:12:15Z Glens Falls computer company owner charged with loan fraudDON LEHMAN -- Glens Falls Post-Star
November 28, 2012 9:41 am  • 

A Lake Luzerne man who operates a Glens Falls technology company has been charged with two felonies for allegedly providing false information to receive a business loan through the Warren County Local Development Corp.

John C. Mikalinis, 53, of Hudson Court was charged with counts of falsifying business records and offering a false instrument for filing after an investigation by the Warren County Sheriff’s Office and Warren County District Attorney’s Office.

Mikalinis was charged in connection with a loan he received on behalf of Axis Technology of Northeastern NY, which operated on Dix Avenue in Glens Falls for a number of years.

The company has closed, but Mikalinis now operates TrickTek Computer & Network Services of Glens Falls. He would not discuss the loan situation with a reporter on Wednesday.

He is alleged to have submitted false information to the Local Development Corp regarding the financial situation of the company in order to receive the loan, and “fraudulently” selling equipment that had been used as collateral for the loan.

The equipment was supposed to held as security for the loan.

He is also accused of falsifying business records to make it appear in his company’s business records that company was in better than financial shape than it was, court records show.

The loan came through the LDC’s microenterprise loan program to assist small businesses.

Mikalinis allegedly claimed in March 2010 that the business was making $10,000 a month profit, but weeks earlier had filed an affidavit in a civil court proceeding swearing that it was “insolvent” and was “no longer a viable business,” according to the Sheriff’s Office.

Warren County Attorney Martin Auffredou said Mikalinis received a loan of $51,750 on Aug. 3, 2010, and made payments totalling $2,918. The last payment was in September 2011.

“We sent correspondence to him indicating the loan was in default,” Auffredou said.

No civil litigation was pursued.

The company declared bankruptcy in July 2011.

The loan was administered through the Warren County Planning Department, and the LDC now administers the small business loan program in light of cuts to the Planning Department last year.

Vicki Pratt Gerbino, chief executive officer of the LDC, said she could not discuss the investigation, but said that the non-payment of loans results in a smaller pot of money to be loaned to other applicants.

“We want to have a revolving loan fund, not a dissolving loan fund,” he said. “The role the LDC plays is to take the risks that banks won’t.”

Mikalinis was released pending prosecution in Queensbury Town Court. Sheriff’s Investigator Kevin Conine handled the investigation.

Copyright 2015 Glens Falls Post-Star. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

(1) Comments

  1. just a reader
    Report Abuse
    just a reader - November 28, 2012 8:14 pm
    Geez, if you or I had robbed someone of lemme see, the article wasn't really clear - $51,750 borrowed less $2,918 = $48,832 stolen, would we be just released by the court and off to whistle Dixie? I don't think so. What's up with this *special* one that he gets to skate so freely? Or is it OK with Warren County judges to steal a certain amount before they let one skate. Some of us who are on the financial edge would like to know what can be stolen and taken out of the country without worry of being detained. It's obviously more than $48,832, Anyone have the correct figure? Sincerely signed, headed for Belize with your tax money.


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