A Park City businessman told roughly 100 investors he would use their money to build a brewery in Park City, and then another in California. Instead, he pocketed the money and used it to pay off personal debts, fund vacations and pay for strippers and swingers’ clubs, according to the Department of Justice. Timothy Nemeckay, 64, pleaded guilty to one count of wire fraud in September 2023 and admitted to “misappropriating” $1.
7 million — roughly 60% of the investors’ funds. He will pay for the crime with a year and a day in prison, plus $1.7 million in restitution and $308,893 in forfeiture proceeds from the sale of his Park City home, the Department of Justice announced Thursday.
Mine Shaft Brewing was supposed to be a “ski-out” brewery and restaurant in Park City, according to court documents. Nemeckay started funding the proposed project in 2013 and later told investors he planned to build a second brewery in Santa Clarita, California. But Nemeckay was not legally allowed to raise securities — aka solicit investments.
According to court documents, he had just gotten away with helping a former business partner defraud investors in an energy drink company scheme. Nemeckay and Randy Olshen raised around $7 million, of which Nemeckay kept $300,000. Olshen confessed to lying to investors about how much money the company was making.
Olshen was sentenced to five years in prison. Nemeckay was never charged, according to court documents. He was, however, ordered by t.