Significant Activity Report:United States of America v. Guy Potter and Matthew Giovenco 11-CR-316 (U.S.D.C. ND IL)
On December 9, 2014, the United States Court of Appeals for the Seventh Circuit affirmed the
district court’s rulings in the case of United States v. Guy Potter and Matthew Giovenco 11-CR-
316 (U.S.D.C. ND IL).
The appellants, Guy Potter and Matthew Giovenco, controlled and operated the now-defunct ICS Cable, Inc., which they and others fraudulently disguised as a minority-owned business to obtain $8.3 million in City-mandated minority sub-contracts under the lakefront cable franchise held by RCN Telecom Services of Illinois LLC.
On September 10, 2013, Potter and Giovenco were convicted on six counts of mail fraud in
violation of 18 U.S.C. § 1341. Potter was sentenced to 4½ years and Giovenco was sentenced to
three years in prison. The two men were also ordered to forfeit $2.2 million in profits and pay
$217,580 in restitution to RCN.
Read the full memo here.