Jonathan Lee Smith, the CEO of two Hollywood production companies that specialize in producing reality TV shows, has agreed to plead guilty to wire fraud to obtain a $2 million business loan through fabricated documents and misrepresenting his companies’ financial circumstances.Smith, who managed or owned Hoplite Entertainment and Hoplite Inc., agreed to plead guilty to the felony offense, which carries a maximum penalty of 20 years in federal prison.“To convince a private lender to fund a $2 million loan last year, Smith falsely represented that his two companies had accounts receivable of $3,348,000, and he submitted falsified license agreements and other forgeries to back up the claim,” the U.S.
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