Spencer Askew, the founder and former CEO of E-Freight Solutions Worldwide, LLC, has admitted to defrauding Vinings Bank to secure a $1 million line of credit. Additionally, he confessed to making false statements to the United States Department of Veterans Affairs (VA) in June 2020. Askew falsely claimed he had ties with 3M and could supply KN95-like masks during the COVID-19 pandemic.
"Askew can no longer avoid the consequences of engaging in a fraudulent scheme that resulted in the loss of millions of dollars and of aggravating his criminal conduct by making false statements to law enforcement," stated Acting U.S. Attorney Richard S. Moultrie, Jr. "This prosecution underscores our commitment to work with agency partners to combat all forms of fraud and deception."
Special Agent in Charge Kyle A. Myles from the Federal Deposit Insurance Corporation's Office of Inspector General remarked on the case: "The defendant in this case was brought to justice for submitting falsified financial information about his companies to financial institutions in order to fraudulently obtain millions of dollars in loans and lines of credit." He emphasized that their office will continue efforts with law enforcement partners against such offenses.
David Spilker, Special Agent in Charge at the Department of Veterans Affairs' Office of Inspector General’s Southeast Field Office, commented on Askew's actions: "This guilty plea holds the defendant accountable for his egregious attempt to exploit VA programs and services during a global pandemic." He assured that their office is committed to uncovering and prosecuting similar schemes.
Court records indicate that Askew established E-Freight Solutions Worldwide, LLC in March 2010 as a logistics company facilitating partnerships between carriers and suppliers. In May 2015, he founded Techknowlogi Holdings, LLC d/b/a Teknowlogi which conducted minimal business operations. Between February and April 2018, Askew devised a plan involving Teknowlogi to deceive Vinings Bank into providing financing under false pretenses.
In June 2020, Askew misled federal agents regarding his capability to supply protective equipment like KN95 masks during the pandemic. Following an indictment for bank fraud and money laundering by a federal grand jury in April 2023, Askew was apprehended after crossing into Arizona from Mexico in April 2024.
Under his plea agreement terms reached on March 6, 2025, Spencer Askew agreed to pay over $6 million as restitution. His sentencing is set for May 15, 2025 before Chief U.S. District Judge Timothy C. Batten Sr.
The investigation involves both the Federal Deposit Insurance Corporation's Office of Inspector General and U.S. Department of Veterans Affairs' Office of Inspector General while Assistant U.S. Attorney Alex R. Sistla leads prosecution efforts.
For more details or inquiries contact U.S Attorney’s Public Affairs Office via USAGAN.PressEmails@usdoj.gov or call (404) 581-6280; visit http://www.justice.gov/usao-ndga for additional resources.