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Home / Legal News / DOJ charges Milwaukee Ironworks president with state loan fraud

DOJ charges Milwaukee Ironworks president with state loan fraud

MADISON, Wis. (AP) — The Wisconsin Department of Justice has accused a Racine business executive of misusing a loan from the now-defunct state Department of Commerce.

Abimael Gutierrez, president of Milwaukee Ironworks LLC, faces felony counts of theft by false representation and illegally transferring property.

According to a criminal complaint, the Commerce Department gave Gutierrez nearly $83,000 in loans in 2010 so he could purchase equipment. But investigators say he never used $28,000 that was supposed to go for a crane and four other pieces of equipment worth a combined $38,770 that he did buy are missing.

Court records indicate the charges were filed Jan. 30 but didn’t list an attorney for him. A call to Milwaukee Ironworks met with a busy signal. No residential listing for him could be found.

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