Frederick, Md. (DG) – –A former co-owner of a Frederick martial arts studio has been sentenced in a theft and identity fraud case involving his own business partner.
The Maryland State Prosecutor says 47-year-old Michael William Perry received a 15-year sentence, with all but 60 days suspended, along with five years of supervised probation. The sentence comes after Perry paid more than 71-thousand dollars in restitution to the business and his former partner.
Prosecutors say Perry misused company funds and his partner’s personal information for personal gain while helping run Groundswell MMA. He admitted to spending around 66-thousand dollars on unauthorized purchases, including personal expenses, and using his partner’s identity to secure more than 25-thousand dollars in financing without permission.
Perry pleaded guilty in January after testimony showed he portrayed himself as a wealthy investor while secretly misusing funds. The court determined jail time was necessary due to his abuse of trust. He will serve his 60-day sentence on consecutive weekends.
By: Dianah Gibson
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