Former Colorado CEO indicted for using company's money for cars, trips
Federal investigators obtained a grand jury indictment last month against a 50-year-old Aurora resident who allegedly falsified business records in order to obtain $2.3 million in COVID-19 relief funds. He also allegedly spent $843,000 of his company's money to buy luxury vehicles, rent private jets, renovate his home and participate in an east coast golf tournament.
The federal indictment was filed Dec. 18. It accuses Matthew John Barr of defrauding Survwest, LLC, a surveying company based in the Denver Tech Center in Englewood, as well as the U.S. Small Business Administration.
Barr faces six counts of wire fraud and two counts of money laundering.
The indictment states Barr purchased a 2017 Mercedes G63, a 2021 Aston Martin Vantage convertible, and a supercharged 2018 Land Rover Range Rover Sport between June 2019 and November 2022. Federal investigators claim Barr fabricated a Survwest invoice from a Texas auction company, allegedly for the purchase of heavy equipment, to buy the Mercedes. To buy the convertible, Barr justified a $225,000 transfer of company funds to his personal account claiming it was related to a merger and acquisition, per investigators. For the Land Rover, investigators claim Barr transferred $73,789.67 from a Survwest account to his personal bank account, then wrote a personal check for that exact amount.
Barr then purportedly sold the Mercedes and the Land Rover back to Survwest at inflated prices. The Land Rover, in fact, twice. However, investigators say Barr never delivered the vehicles to the company and kept the titles to them in his name. He eventually sold both vehicles privately and pocketed the funds.
"In total, BARR was paid three times for the Range Rover for a total of $245,798.67, all at the expense of SURVWEST," as stated in the indictment.
Barr used other transfers for a down payment for the purchase of a 2020 Mercedes Benz SUV, luxury personal vacations, rental of a private jet, a home renovation project, household expenses, entertainment expenses, and restaurant expenses, according to federal investigators. None of the transfers were disclosed to his partners in the company.
Barr is also accused of lying to get financial support through the federal government's Paycheck Protection Program ("PPP") and the Economic Injury Disaster Loans programs. Those programs were signed into law in 2020 with the intent to bolster economic recovery during the COVID-19 pandemic.
Investigators accuse Barr of falsifying Survwest's revenues in order to qualify.
"In reality, SURVWEST's accounting records reflected that it had actually increased its gross receipts between the Second Quarter of 2020 and the Second Quarter of 2019, which BARR knew," as stated in the indictment.
Barr used part of the money obtained from the programs for large credit card payments that included charges for personal luxury vacations, catering expenses, fine dining, and luxury jewelry, per the indictment. He also used that money toward his participation in a Pro-Am golf tournament in Hilton Head, South Carolina.
Barr's actions were investigated by the Internal Revenue Service's Denver office.
Barr is noted in several online financial documents as the founder and former chief executive officer of Survwest. It was created in 2009.
At the time of the alleged crimes, Barr was a majority partner in the company.
Survwest specializes in surveying and mapping underground utilities during construction projects, according to its website. it reported $6.3 million in revenue last year, according to online sources. Federal court records show the company filed for bankruptcy in September. Its office space at 6501 E. Belleview Avenue is currently listed online as available for lease.
Barr is considered innocent until proven guilty. His six-day jury trial begins March 17.
