Former CEO to be arraigned

CHICAGO, May 12 (UPI) -- A former executive of a now-defunct electronics business allegedly engaged in a $17 million bank fraud scheme has been returned to Chicago, officials said.

Kevin M. Gore, who was chief operating officer of Computer World Solution, was arrested this year in the Philippines. He was returned to Chicago to face criminal charges, federal officials said Tuesday.

Gore is scheduled to be arraigned Wednesday in federal court. He and co-defendant Noel Yuan, the company's founder and president, allegedly defrauded Fifth Third Bank through a revolving line of credit.

Gore, 40, was charged in a criminal complaint in 2008 and was indicted in March 2009 on three counts of bank fraud. The indictment seeks forfeiture of $17 million in allegedly ill-gotten gains, the Department of Justice statement said.

If convicted, the men face 30 years in federal prison for each count and a maximum fine of $1 million, prosecutors said.