Man convicted in scam wins award from Nat'l Repub Congressional Committee

[rainbow4321]

http://www.nashuatelegraph.com/apps/pbcs.dll/article?AID=/20050428/NEWS01/104280031/-1/news01

A man convicted of stealing more than $600,000 in a business loan scam received an award from the National Republican Congressional Committee honoring his business leadership and party support.

Ira Stern, 56, of Milford was among hundreds of people nationally to receive the 2004 Ronald Reagan Republican Gold Medal award, Republican Congressional Committee spokesman Alex Burgos said Wednesday.

The awards were given by NRCC, and announced by House Majority Leader Tom Delay and NRCC Chairman Rep. Tom Reynolds of New York, to honor business leaders who support the party, and honor President Reagan’s “vision for an entrepreneurial America.”

Stern was sentenced to 2 ½ to five years in prison and ordered to pay $250,000 in restitution after pleading guilty to felony theft charges in 1996 in Hillsborough County Superior Court. Stern admitted to bilking 14 local businesses and individuals out of a total of more than $600,000 through an “advance fee loan scam.” Stern admitted at the time he took the money as fees, claiming he would arrange venture capital loans, but never made any loans.