Indicted Fall River mayor seeks to repay investors
FALL RIVER — A Massachusetts mayor facing federal charges and a recall election says prosecutors aren’t allowing him to repay investors in his company.
Fall River Mayor Jasiel Correia II said Wednesday he has filed a motion for a judge to allow access to lenders to repay them.
The motion says there is $306,000 available in escrow to pay the seven lenders, and in return, the lenders would agree not to file lawsuits.
Correia declined to comment on where he obtained the money.
Prosecutors say he used investments in his cellphone app company as his ‘‘personal ATM’’ to enjoy a lavish lifestyle and pay student loan debt.
Correia, who was 23 when first elected mayor in 2015, pleaded not guilty in October to federal tax and wire fraud charges.