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One local business owner is facing some serious allegations.
On Sept. 9, 2020, Michael J. Tiernan was indicted on seven felony counts of bank fraud, two felony counts of filing false tax returns and one felony count of failure to file income tax, according to court documents filed in the U.S. District Court for the Eastern District of Virginia.
Tiernan, the former co-owner, chief financial officer and controller of Ford’s Colony Realty, LLC. and Southeast Settlement and Title, LLC., allegedly embezzled thousands of dollars from both companies between 2015-17, according court documents.
âBeginning in or about January 2015 and continuing until at least the sale of Fordâs Colony and Southeast in or about May 2017, Tiernan committed a scheme to embezzle, steal, obtain by fraud an otherwise without authority, convert to Tiernanâs personal use moneys and funds owned by Fordâs Colony and Southeast,â according to the indictment. âDespite having agreed to fo