Broadband advisor picked by FCC Chairman Ajit Pai arrested on fraud charges

The Verge is just posting this story, but it's from last week. Just too much corruption to keep track of.

Broadband advisor picked by FCC Chairman Ajit Pai arrested on fraud charges

A broadband advisor selected by Federal Communications Commission Chairman Ajit Pai to run a federal advisory committee was arrested last week on claims she tricked investors into pouring money into a multi-million dollar investment fraud scheme, according to The Wall Street Journal.

The advisor, Elizabeth Pierce, is the former chief executive of Quintillion, an Alaska-based fiber optic cable provider operating out of Anchorage. In her capacity as CEO, Pierce allegeledy raised more than $250 million from two New York-based investment companies using forged contracts with other companies guaranteeing hundreds of millions of dollars in future revenue. Pierce resigned from Quintillion in August of last year, and she stepped down from her role in Pai’s Broadband Deployment Advisory Committee (BDAC) the following month.

"Pai picked Pierce last year to chair his newly created broadband advisory group"

“As it turned out, those sales agreements were worthless because the customers had not signed them,” US attorney Geoffrey Berman said in prepared remarks, as reported by the WSJ. “Instead, as alleged, Pierce had forged counter-party signatures on contract after contract. As a result of Pierce’s deception, the investment companies were left with a system that is worth far less than Pierce had led them to believe.” Pierce was trying to raise money to help build out a fiber optic system that would wire Alaska with high-speed internet and better help connect it to networks in other US states. Pierce was charged with wire fraud last Thursday and faces a maximum sentence of 20 years in prison.