OnSite Temp Housing President Donald Kaebisch and shareholder William “Brad” Blaicher were recently ordered by an Arizona judge to pay $657,321 in restitution for defrauding 16 lenders, according to court records. After facing cash-flow problems in 2014, the owners of the New River, Ariz.-based RV rental company defrauded investors by securing loans for the non-existent trailers.
The reported vehicle identification numbers were phony. Kaebisch and Blaicher went on to give false statements about the non-existent trailer inventory to the U.S. Forest Service in 2015, according to court records.
The rental company, which has since filed for bankruptcy, provided temporary RVs for construction sites and people displaced by natural disasters.
Not all loans were made falsely. According to a joint statement in a court document, the two accused men stated: “In some cases, OnSite actually secured loans with trailers we had acquired. But in approximately 24 instances, spread throughout 13 promissory notes, OnSite provided VIN numbers to the lenders for trailers that had been ordered but for which the acquisition never took place. … I participated in the scheme with the intent to defraud the investors into making unsecured loans which the investors thought were secured. I also, during 2014, received money from the company for my personal use.”
Kaebisch and Blaicher plead guilty to the wire fraud and false statement. They were then put under house arrest for 6 months with 2 years’ probation.
