Evans Bank is accusing local developer G Patti Enterprises LLC of misappropriating funds tied to the Jamestown Brewing Company project in a lawsuit filed in Chautauqua County Supreme Court. The lawsuit states that G Patti has failed to pay $748,554 dollars of a $1,382,360 dollar loan from Evans Bank after the loan matured.
The loan was secured by G Patti Enterprises by grant funds including the New York Main Street Program, Community Development Block Grants, Jamestown City’s Greenlining Program and Facade Grant.
Evans Bank accuses GPatti Enterprises of misappropriating those grant funds by disposing of them without “providing Evans Bank notice of receipt of the Grand Funds or otherwise receiving Evans Bank’s consent to dispose of the Grant Funds.”
Leave a Reply