Advertisement
  1. Business

Former Savtira executive pleads guilty to wire fraud charge

Terrance Taylor, a former executive of shuttered Ybor City tech company Savtira,  pleaded guilty Friday to conspiracy to commit wire fraud. This 2011 photo shows (left to right) Taylor, then Savtira CEO Tim Roberts and Gregg Sullivan in Ybor City. [TImes file photo]
Terrance Taylor, a former executive of shuttered Ybor City tech company Savtira, pleaded guilty Friday to conspiracy to commit wire fraud. This 2011 photo shows (left to right) Taylor, then Savtira CEO Tim Roberts and Gregg Sullivan in Ybor City. [TImes file photo]
Published Jun. 9, 2017

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.