The publisher of a local newspaper in Northern Virginia has been arrested and is accused of defrauding investors in the newspaper company, reports NBC4 in Washington, D.C.. The report added that Brian Thomas Reynolds, 52, of Leesburg, Virginia, was charged with 11 counts of wire fraud, one count of unlawful possession of firearms by a convicted felon and one count of making false statements to the FBI, according to the U.S. Attorney’s Office for the Eastern District of Virginia.

The NBC4 report stated that Reynolds, publisher of the Loudoun Tribune, “is accused of lying to investors and lenders to the company that operates the newspaper based in Loudoun County.

“According to an indictment, Reynolds, who is a convicted felon, made several false statements to investors and potential investors and lenders about the value of the advertising contracts the company had, the advertising revenue the company was making and mislead investors about who served on the company’s advisory board.”

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