The former parent company of Newsweek charged in a fraud and money laundering case

The indictment also involves a third company, Oikos Networks. Prosecutors claim that Oikos has provided computer hardware of inferior quality to that listed on equipment lists and loan agreements.

Instead of using it to buy the servers for which the lenders thought the money was being used, Oikos would have given almost all the money to accounts controlled by Uzac, IBT Media, Christian Media Corporation and its CEO, William Anderson, among the other conspirators who have not been charged or named in court documents.

Prosecutors said the executives at IBT Media and Christian Media Corporation had used some of the money received from lenders to repay the funding they had previously received.

Prosecutors claim that the crimes alleged in the indictment were committed between early 2015 and late 2016. The indictment suggests that companies have fraudulently obtained funding of several million dollars during the life of the scheme.

IBT Media bought Newsweek in August 2013 and was the owner of the publication until last month. In mid-September, Newsweek announced that it now operates separately as a standalone entity.

IBT Media still owns other media brands, including International Business Times, Medical Daily and Latin Times.

IBT Media, Christian Media Corporation and Oikos are all named as defendants. The indictment also mentions Uzac, co-founder of IBT Media, and Anderson, CEO of Christian Media Corporation, when prosecutors said the crimes were committed.

In a statement on Wednesday night, Uzac said that he had "categorically" denied the allegations and asserted that the investigation against him was "fueled by retaliation". Uzac claimed that the Manhattan District Attorney's Office was "badly bruised" after the announcement by the International Business Times in October 2017 that prosecutors had refused to press charges against Harvey Weinstein, the famous Hollywood producer. accused of sexual assault and abuse, what he denies.

"The equipment lenders in question have been fully reimbursed, as well as interest and fees," Uzac said in his statement. "There have been no casualties and I have never intended to hurt anyone." The fact that Manhattan attorneys register where they should not and defend financial institutions which, themselves, do not lay charges and have expressed no problem, is an obvious case of abuse of government power ".

Uzac left the company early in the year.

Oikos and Christian Media could not be contacted for comment.

An Anderson lawyer did not immediately return a request for comment.

The investigation on the former parent company Newsweek has been going on for some time. The newsroom was plunged into chaos early this year when the Manhattan District Attorney's Office broke into the company's office.

Newsweek herself reported around this time that the raid was part of a survey of the company's finances.

Shortly after, Newsweek's editor and editor were fired. A journalist who had written articles about the prosecutor's investigation and financial problems in the magazine had also been released.