Spencer Askew, the founder and former CEO of E-Freight Solutions Worldwide, LLC, a logistics and supply chain company based in Georgia, has pleaded guilty to bank fraud and making false statements to the Department of Veterans Affairs. Askew admitted to defrauding Vinings Bank by obtaining a $1 million line of credit under false pretenses and making misleading claims to the VA about his ability to supply KN95-like masks during the COVID-19 pandemic.
Acting U.S. Attorney Richard S. Moultrie, Jr., stated that "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." This prosecution highlights efforts to combat fraud and deception with agency partners.
Special Agent in Charge Kyle A. Myles from the Federal Deposit Insurance Corporation's Office of Inspector General noted that Askew was held accountable for submitting falsified financial information to obtain loans fraudulently. The FDIC OIG continues its work with law enforcement partners to ensure accountability for such offenses.
David Spilker, Special Agent in Charge at the Department of Veterans Affairs Office of Inspector General’s Southeast Field Office, emphasized that this guilty plea addresses Askew's attempt to exploit VA programs during a global crisis. The VA OIG remains committed to uncovering and prosecuting such schemes fully.
Court records reveal that Askew founded E-Freight Solutions Worldwide, LLC in March 2010 and another entity called Techknowlogi Holdings, LLC d/b/a Teknowlogi in May 2015. However, Teknowlogi conducted minimal business activities. Between February and April 2018, Askew executed a scheme against Vinings Bank using materially false information about Teknowlogi's operations and finances.
In June 2020, he lied about providing protective personal equipment to the VA amid the pandemic. In April 2023, a federal grand jury indicted him for bank fraud and money laundering charges. He was arrested in Arizona after crossing from Mexico in April 2024.
Under his plea agreement terms, Askew will pay over $6 million in restitution. His sentencing is scheduled for May 15, 2025, before Chief U.S. District Judge Timothy C. Batten Sr.
The investigation is conducted by 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 the prosecution.
For more details or inquiries regarding this case, contact the U.S. Attorney’s Public Affairs Office via email at USAGAN.PressEmails@usdoj.gov or call (404) 581-6280. More information can be found on their website at http://www.justice.gov/usao-ndga.
