Accused businessman freed, confined to home

Posted: Thursday, December 20, 2001

ANCHORAGE (AP) -- A printing company owner accused of bank fraud and of lying on bank loan applications was released from jail Wednesday.

Nezar ''Mike'' Maad, 42, owner of the now-closed Frontier Printing Services, agreed to a long list of conditions set by the judge for his release.

A federal grand jury on Tuesday indicted Maad on two counts of falsifying loan applications, one count of wire fraud and two counts of making false statements to the U.S. Small Business Administration in connection with a loan guarantee request, according to assistant U.S. attorney Dan Cooper.

The bank fraud charges followed an FBI investigation into what was suspected of being a hate crime at Maad's business 10 days after the Sept. 11 terrorist attacks. Someone broke computers and printers and spray-painted ''We hate Arabs'' on one wall.

Defense attorney Rich Curtner said his client is glad to be getting out of jail because he's been in solitary confinement the last several days. Curtner said Maad was threatened by several other inmates while in Cook Inlet Pre-Trial Facility.

Maad was not required to post bond in federal court but if he fails to show up for future court proceedings, he will owe the government $50,000.

Maad is confined to his Anchorage home and may leave only to see his attorney, or in the case of an emergency, to see his doctor.

Maad's wife, Joanne, and friend Malcolm Roberts were appointed third-party custodians.

Maad is required to wear an electronic monitoring device and is banned from entering an airport.

His trial is set for early February.

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