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\nA prominent Louisville businessman, known for a $95 million facility in Louisville, has been arrested by the FBI.<\/p>\n
\nA prominent Louisville businessman, known for a $95 million facility in Louisville, has been arrested by the FBI.<\/p>\n
According to records, 60 year-old Phil Pascoe, of Floyds Knobs, Indiana, was arrested November 9 and taken to the Oldham County Jail. Also facing charges are 45 year-old Monica Pascoe, of Floyds Knobs; 59 year-old Scott Tubbs, of Georgetown, Kentucky; and Quadrant Magnetics LLC. Each are charged with \u201cwire fraud, violations of the Arms Export Control Act, and smuggling of goods for their roles in an illegal scheme to send export-controlled defense-related technical data to China and to unlawfully supply U.S. Department of Defense (DOD) with Chinese-origin rare earth magnets for aviation systems and military items.\u201d<\/p>\n
The federal indictment alleges that \u201cbetween January 2012 and December 2018, the defendants conspired to send approximately 70 drawings containing export-controlled technical data to a company located in China without a license from the U.S. government, in violation of the Arms Export Control Act and the International Traffic in Arms Regulations.\u201d<\/p>\n
Pascoe is the president of Quadrant, a magnetic-technology based company whose operations were to be based in Louisville on Plantside Drive. Governor Andy Beshear made the announcement about the $95 million development in January. The project was expected to create roughly 200 jobs.<\/p>\n
The Pascoes were expected to make their first federal court appearance on Wednesday.
\nSource: WAVE<\/p>\n","protected":false},"excerpt":{"rendered":"
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