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What will be the outcome of the scrutiny over the $160M bond usage by mid-2025?
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Story
Tim Sheehy Faces Scrutiny Over $160M Bond, $134M Paid to Investors Amid Fraud Allegations
Aug 31, 2024, 03:17 PM
Tim Sheehy, a prominent figure in Montana, is facing scrutiny over a $160 million bond issued to his business, Bridger Aerospace, in Gallatin County. Allegations have emerged that a significant portion of the bond, $134 million, was paid to investors rather than being used for its intended purpose of purchasing planes and hangars. The company was registered as a "socially and economically disadvantaged company." The situation has led to calls for a federal investigation. Additionally, Sheehy is facing legal challenges from employees who claim they were not paid, with representation by attorney John L. Amsden. The controversy has been further fueled by accusations of fraud and mismanagement, with the resignation of the head of the audit committee adding to the concerns.
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