Friday, July 20, 2018
Business

Former Savtira executive pleads guilty to wire fraud charge

TAMPA — A former executive of shuttered local tech company Savtira Corp. pleaded guilty Friday to conspiracy to commit wire fraud.

Terrance Taylor, who served as Savtira's executive vice president, entered a statement in federal court admitting that he lied about the company's projected revenue to investors in a valuation of the company.

He faces up to $250,000 in fines and a maximum of five years in prison. Another executive, then-president Timothy Roberts, pleaded guilty in January to wire fraud.

The company, which was based in Ybor City, was heralded as a much-needed invigoration to the Tampa tech scene and a sign of the industry's growing success in the area. It declared bankruptcy in 2012 and was forced to liquidate shortly afterward.

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