A Massachusetts mayor who launched a smartphone app has confirmed he’s the subject of a federal investigation.
The Herald News reports Democratic Fall River Mayor Jasiel Correia II says the investigation is being conducted by the FBI and the Department of Housing and Urban Development and a federal grand jury has been convened regarding his startup app company.
Correia denied for months that he was being investigated.
Correia launched a smartphone application called SnoOwl. He acknowledges investors he worked with didn’t make their money back. However, he says the goal was not to generate significant revenue but to sell the app to a major company.
The mayor says he didn’t do anything wrong and denies accusations he defrauded anyone. He says the investigation was brought on by political opponents.
Information from: The (Fall River, Mass.) Herald News, http://www.heraldnews.com