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February 26, 2021
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CyberNET defendant enters guilty plea
(2007-08-31)
(wgvu) -



GRAND RAPIDS, Mich. (AP) - A man charged in connection with a
fraudulent information technology company that bilked lenders of
about 100 million dollars has entered a guilty plea in a Grand
Rapids federal court.
Fifty-six-year-old Paul Wright faces up to five years in prison
and could be ordered to pay millions of dollars in restitution at
his sentencing hearing in December.
He pleaded guilty to signing documents that were used to defraud
banks and other lenders.
Wright served as an aide to Barton Watson, who founded The
CyberNET Group.
Watson killed himself in November of 2004 after his Grand Rapids
company became the focus of a federal fraud investigation.

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