July 23, 2016
The former chairman of the South Street Headhouse District (SSHD) has been accused of defrauding the organization out of more than a million dollars.
The U.S. Attorney's Office announced Friday that Daniel Christensen, 42, of Philadelphia, has been charged with one count of wire fraud in connection with the alleged scheme.
Christensen owned and operated two bars on South Street: Copabanana and the now-closed Redwood. From November 2014 to June 2015, he illegally withdrew $1.4 million in funds from SSHD accounts to keep his own business accounts afloat, federal prosecutors allege.
Prosecutors did say that the funds were eventually replaced.
PhillyMag reported in July 2015 that Christensen had resigned due to an inquiry of possible financial wrongdoing.
In a letter to SSHD stakeholders acquired by the magazine, two other SSHD board members said that Christensen had quit amid an investigation into the misappropriation of funds.
The district, which stretches from 11th Street to Front Street along South, works to "provide a safer, cleaner, well managed business district."
If convicted, Christensen could face a maximum sentence of 20 years in prison, restitution and related penalties.
