Federal prosecutors on Monday unsealed a 30-page grand jury indictment charging former JEA top executives with two counts each of conspiracy and wire fraud.
and finance chief Ryan Wannemacher with two counts each of conspiracy and wire fraud, casting the two men as the architects of a brazen scheme to secretly extract tens of millions of dollars of personal profit out of the city-owned utility before selling it off to a private operator.
The 30-page indictment accuses the agency’s former top executives of devising a plot to enrich themselves by disguising it as a good-faith exploration of JEA’s financial future, burying their plan beneath layers of legitimate work product provided by consultants and opaque financial forecasting generated by Zahn and his team.
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