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Middleton man sentenced to a year in federal prison for perjury

In addition to time in prison, Todd Goldbreack must pay $2,466,550.46 in restitution
Published: Aug. 10, 2020 at 9:45 PM CDT
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MIDDLETON, Wis. (WMTV) - A 46-year-old Middleton man was sentenced to one year and one day in federal prison Friday for committing perjury during a bankruptcy proceeding.

In 2015 Todd Goldbeck received a $2.4 million government-back loan from Summit Credit Union and the Small Business administration to build a sports complex in Jefferson, Wis., according to a release by U.S. Attorney Scott C. Blader.

The loan was approved, but after construction began, Goldbeck contacted Summit and requested an additional $2.5 million claiming Summit knew the complex was a two-phase project.

The new loan was not approved, however, and Goldbeck never finished the building.

Summit filed a civil suit against Goldbeck and obtained a money judgement for about $2.5 million. After entry of the judgment Golbeck filed a bankruptcy petition. During the proceedings, Goldbeck told the bankruptcy trustee, under oath, that Summit knew the building was a two-phase project when the loan was approved.

Upon investigation, authorities obtained documents and emails showing Goldbeck intentionally misrepresented the cost and scope of the project. They also determined he forged a lease agreement with a medical center that agreed to rent a portion of the completed complex.

In addition to time in prison, Goldbreack must pay $2,466,550.46 in restitution.

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