The conditions of former Gary Mayor Jerome Prince’s release were set this week after he pleaded guilty to federal wire fraud charges for misusing campaign funds.
Prince will be required to turn over his passport and will be restricted to travel within the continental United States. He posted an unsecured bond of $20,000 and will be forced to turn over any firearms to family members outside of his household. By agreeing to these conditions, Prince remains out of jail or custody as the legal process continues.
According to court documents, Prince withdrew campaign funds for personal expenses, specifically using the money as a down payment on a personal residence. Prince failed to report two separate withdrawals in October 2019 of $7,000 and $19,750. In total, Prince obtained $26,750 from the campaign fund as part of a scheme to fraudulently use funds obtained from donors to the Committee to Elect Jerome Prince for Mayor. Indiana campaign finance law restricts the use of money contributed to a campaign and requires campaign committees to regularly file public reports using a state form.
In exchange for his guilty plea, federal prosecutors agreed that no additional charges would be filed against Prince regarding his misuse of campaign funds, according to the plea agreement. The agreement also stipulates that no other individuals will face charges for misusing Prince’s campaign funds. According to court records, the charge of wire fraud carries a maximum sentence of 20 years in prison and a fine of up to $250,000.
“As a result of my previous experience as the Lake County, Indiana elected Assessor, I was very familiar with the rules and regulations regarding the use of campaign funds,” Prince said in the plea agreement. “Specifically, I knew Indiana campaign finance law restricted the use of money contributed to a campaign committee.”
Prince succeeded Karen Freeman-Wilson as mayor after winning the 2019 election. He served one term, which ended at the start of this year. Before being elected mayor, Prince held several elected positions, including seats on Gary’s Common Council, the Lake County Council, and the Lake County Assessor.
Prince, a Gary native and graduate of Lew Wallace High School, began his political career after serving in the U.S. Marines.
