Georgia businessman pleads guilty to bank fraud involving Vinings Bank

Richard S. Moultrie, Jr. Acting United States Attorney for the Northern District of Georgia | U.S. Attorney for the Northern District of Georgia

Spencer Askew, the founder and former CEO of E-Freight Solutions Worldwide, LLC, has pleaded guilty to charges of bank fraud and making false statements to the Department of Veterans Affairs. The Georgia businessman admitted to defrauding Vinings Bank by obtaining a $1 million line of credit under false pretenses. Additionally, he falsely claimed in June 2020 that he had a relationship with 3M and could supply KN95-like masks to the VA during the COVID-19 pandemic.

Acting U.S. Attorney Richard S. Moultrie, Jr. commented on the case stating, "Askew can no longer avoid the consequences of engaging in a fraudulent scheme that resulted in the loss of millions of dollars and of aggravating his criminal conduct by making false statements to law enforcement."

Special Agent in Charge Kyle A. Myles from the Federal Deposit Insurance Corporation emphasized their commitment to investigating such fraudulent offenses: "The defendant in this case was brought to justice for submitting falsified financial information about his companies to financial institutions in order to fraudulently obtain millions of dollars in loans and lines of credit."

David Spilker, Special Agent in Charge at the Department of Veterans Affairs' Office of Inspector General’s Southeast Field Office, remarked on Askew's actions: "This guilty plea holds the defendant accountable for his egregious attempt to exploit VA programs and services during a global pandemic."

Court documents reveal that Askew started E-Freight Solutions Worldwide, LLC in March 2010 as a logistics company facilitating partnerships between carriers and suppliers. In May 2015, he founded Techknowlogi Holdings, LLC d/b/a Teknowlogi but conducted little business through it. Between February and April 2018, Askew defrauded Vinings Bank by misrepresenting Teknowlogi’s business nature and financial status.

In April 2023, Askew faced an indictment for bank fraud and money laundering before being arrested in Arizona after crossing from Mexico a year later. As part of his plea agreement, he will pay over $6 million in restitution.

Askew's sentencing is set for May 15, 2025, before Chief U.S. District Judge Timothy C. Batten Sr.

The investigation is being conducted by both the Federal Deposit Insurance Corporation's Office of Inspector General and the U.S. Department of Veterans Affairs' Office of Inspector General.

Assistant U.S. Attorney Alex R. Sistla is handling prosecution duties for this case.

For further details or inquiries contact the U.S. Attorney’s Public Affairs Office via email at USAGAN.PressEmails@usdoj.gov or phone at (404) 581-6280.