BANGOR, Maine — Nathan Reardon, 44, of Skowhegan, who pleaded guilty to federal bank fraud charges, was sentenced by Judge Lance Walker to 20 months in prison at federal court in Bangor on Wednesday afternoon.
Reardon will also be on supervised release for three years and will pay about $60,000 in restitution, $8,500 of which Hunter Tzovarres, Reardon's defense attorney, said he already paid.
Reardon's mother, father, and wife each spoke before the court on Wednesday afternoon. They each pleaded with Walker not to sentence him to any more time in prison after spending the last 6.5 months in jail. Reardon became visibly emotional as each family member spoke about his character.
The fraud charges stem from Paycheck Protection Program (PPP) loan applications.
Court documents revealed Reardon received a PPP loan for nearly $60,000 using false employee wage information and false supporting documents. The prosecution claimed Reardon then used those funds to pay for expenses he knew were not covered by the program. Some of those purchases include Amazon orders, a truck, a procedure for his dog, and cowboy boots.
The father of five was facing up to 30 years in prison and up to $1 million in fines. The prosecution did not impose any fines due to Reardon's inability to pay.
"We were disappointed the judge didn't see it fit to let Nathan out today. We were hoping that he'd be able to go home after serving over 6.5 months already in jail. But we were satisfied that the judge considered everything and will consider what the next steps should be. He's being optimistic and knows that he will be back home eventually," Tzovarres said.
Reardon also spoke in front of the court before the judge gave his sentencing. He promised he can and will do better moving forward.