Go Cedar Rapids leaders convicted of bank fraud have sentencing dates set

CEDAR RAPIDS, Iowa (KCRG) - Sentencing hearings have been set for the former President and CEO of Go Cedar Rapids as well as the Financial Director, both of whom pled guilty to bank fraud back in January 2022.

Go Cedar Rapids was the organization that planned Newbo Evolve, a three-day music event, featuring concerts by Maroon 5 and Kelly Clarkson in August 2018. The festival lost more than $2 Million, forcing Go Cedar Rapids out of existence. Local vendors said they still haven’t been paid for their work during the event.

Prosecutors say in 2018 the Go Cedar Rapids executives falsified budgets and ticket sale projections for the three-day festival to increase their line of credit from the bank. Former president and CEO Aaron McCreight and former financial director Doug Hargrave both face up to 30 years in prison and a fine of a million dollars for their guilty plea.

Hargrave’s sentencing hearing is set for November 4th, 2022.

McCreight’s is set a week later on November 10th, 2022.

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