A former leader of a St. Louis-based circus nonprofit is facing serious charges after being indicted on six felony counts related to embezzlement. George S. Pace, who once held the title of president of the circus' board of directors, is accused of funneling over $120,000 for personal use. As reported by the U.S. Attorney's Office for the Eastern District of Missouri, the indictment was announced yesterday, with Pace's alleged fraudulent activities spanning from December 2022 through at least September 2023.
The indictment states that the 61-year-old Ladue resident used two secretly obtained credit cards for personal expenses, including dining and horseback riding. When questioned about the charges, Pace allegedly claimed the card was stolen and falsely said the bank had been notified.
Pace's deceptive practices didn't end with credit cards. He is also charged with forging account statements to hide his misdeeds and diverting checks worth over $50,000 intended for the circus toward his personal accounts. These funds were originally earmarked to reduce a line of credit the circus held with a bank. Moreover, donors' checks that should have landed in the circus' coffers instead fattened Pace's personal bank balance.
The indictment elaborated on Pace's alleged exploitation of disaster relief funds intended for struggling businesses. Having fraudulently applied for a U.S. Small Business Administration (SBA) Disaster Assistance Loan, Pace is said to have misrepresented his income and bank account balance to the tune of $18,200 on Aug. 9, 2022. Then, just 11 days later, he allegedly sought an additional $11,200, all the while concealing his receipt of two Paycheck Protection Program (PPP) loans that added up to $38,515.
The wire fraud charges brought against Pace are grave, each carrying a potential of up to 20 years in prison, a $250,000 fine, or a combination thereof. While the indictment serves as a formal accusation, it is essential to note that all defendants are considered innocent until proven otherwise in a court of law. The FBI's investigation has led to this point, and Assistant U.S. Attorney Gwendolyn Carroll is in charge of prosecuting the case.
