Stephan Savoia/AP Photo

By Jacqueline Tempera | MassLive

Early on Thursday, Oct. 11, federal agents from the FBI and IRS swarmed a home in Bridgwater and arrested 26-year-old Jasiel F. Correia II, the mayor of Fall River.

Correia, who was the youngest person ever elected to the job at 23, faces nine counts of wire fraud and four counts of filing false tax returns after he allegedly defrauded investors in his app SnoOwl.

Federal investigators say Correia spent more than $230,000 - roughly 64 percent of the money invested - like a "personal ATM." He allegedly shelled out tens of thousands of dollars on jewelry for an ex-girlfriend, airfare, luxury hotel rooms, adult entertainment and a Mercedes Benz.

Here's what we know so far.

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Who is Jasiel Correia?

A biography of Correia posted to the city's website says he was born and raised in Fall River. He has lived there his entire life, except for when he was a student at Providence College.

He became active in politics at 13 when he joined the BOLD Coalition, a substance abuse prevention group, according to the biography.

While a student at Bishop Connelly High School Correia and other students "drafted a Youth Bill of Rights enumerating the basic rights of the city's young people," according to the city's biography.

He ran for city council when he was 21 and became the city's youngest mayor at age 23 in 2015. He is also the first mayor of Cape Verdean descent.

"A classic example of a Fall River kid made good," the biography reads.

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Oct. 11: Correia arrested by FBI, IRS agents

Prosecutors said a "multi-year" joint investigation by the U.S. Attorney's office, the FBI, the IRS, and The U.S. Department of Housing and Development led to Correia's Thursday morning arrest.

Agents from the FBI and the IRS took Correia into custody at a home in Bridgewater on Thursday, Oct. 11 at 6:30 a.m. He cooperated and later told reporters the agents were "kind" and "nice" to him.

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Prosecutor say Correia 'schemed to defraud SnoOwl investors'

Correia founded the SnoOwl company in 2012 to develop an app designed to connect local businesses with targeted consumers, prosecutors said.

Prosecutors began looking into SnoOwl after they got a tip the mayor was "misusing funds," Andrew Lelling, the U.S. Attorney for the district of Massachusetts said at a Oct. 11 press conference.

From January 2013 to about May 2017 Correia convinced seven people to invest a total of $363,690 in his company.

He told investors, all Massachusetts residents, that "he was a successful tech entrepreneur who previously sold another app, FindIt Networks for a large profit," according to the indictment unsealed Thursday. He also promised the investors that he would not take a salary, according to the indictment.

"Despite the trappings of a company and whatever technical progress was made on the app product that SnoOwl intended to sell, the company was first and foremost a clever way to defraud well-intentioned investors and fund Correia's lifestyle," Lelling said.

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Jacqueline Tempera | MassLive

Prosecutors say he used the money to 'pay for a lavish lifestyle'

Instead, investigators say, Correia burned through the money, buying a Mercedes, jewelry, designer clothing, and adult entertainment.

He used another $10,000 to fund his own political campaign and pay down student loans, according to records.

Correia allegedly spent tens of thousands of dollars on airfare, at high end restaurants and casinos, and on dating services.

He also allegedly used the money to make charitable donations in his own name.

"Correia stole at least $231,447 of the investor money," according to the indictment.

"This is not about poor accounting or honest mistakes," Lelling said. "He knew exactly what he was doing."

When he ran for mayor, Lelling said Correia "touted his stewardship of SnoOwl as one of his primary qualifications."

"To date, no SnoOwl investor has received any return or interest on his investment, and the business of SnoOwl is essentially worthless," authorities said.

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Jacqueline Tempera | MassLive

Correia allegedly used his tax returns to try to hide his spending

After Correia became mayor, he knew he was under investigation for his SnoOwl venture, according to the indictment. Authorities claim he instructed an accountant to amend 2013 and 2014 personal tax returns and was not assessed any taxes for the investor money he alleged stole.

Correia "actually received a refund from the IRS in June 2017," authorities said.

Asked if Correia was trying to "cover up" his alleged wrongdoings, Lelling said: "What was going on inside his head when that was happening I don't know."

"But the timing was suspicious," he said.

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Jacqueline Tempera | MassLive

Correia pleads not guilty to nine counts of wire fraud and four counts of filing false tax records

At his arraignment on Oct. 11, Correia pleaded not guilty to the 13 charges. He smiled and wore a black polo shirt and jeans in the courtroom.

He is scheduled to return to court on Dec. 6. He was ordered to surrender his passport and not to have contact with people associated with SnoOwl.

He faces up to 20 years in prison for each of the nine wire fraud charges and up to three years each on the charges of filing false tax returns.

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Jacqueline Tempera | MassLive

Correia says charges are 'bogus'

Correia emerged from the courthouse smiling on Oct. 11. He changed into a suit before speaking with more than a dozen reporters.

"I've done nothing wrong. If you look at my track record as mayor all you see is positive results," he told media gathered outside in the rain. "I was elected and re-elected with 65 percent of the vote in Fall River and if you look at those bogus charges or whatever they're called there is not a single thing...I did wrong as the mayor of the city of Fall River."

He says he will not resign because there is no reason to.

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Kristina O'Connell, special agent in charge of the IRS. Jacqueline Tempera | MassLive

Authorities did not say he misused public funds, but investigation is ongoing

While authorities have not identified any misuse of public funds, the investigation is still ongoing, Lelling said.

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Sept. 2017: Investigations into Correia begin

The Herald News reports that Correia said he was under investigation in September 2017. In early 2018, he set up a legal defense fund. As of May, the fund had $35,000 in it, the newspaper reports.

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Oct. 15: Bristol County Sheriff's office: Correia given eviction notice

On Monday, Oct. 15, Correia was served an eviction notice at his residence at 200 Bank Street in Fall River, according to Bristol County Sheriff's office spokesman Jonathan Darling.

Few details surrounding the eviction were immediately available, but the notice came less than a week after Correia was arrested and charged.

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Oct. 16: "I will not resign;" Correia defends app, rejects calls that he step down

On Tuesday, Oct. 16, Correia called for a press conference in which he defended his company and online business application SnoOwl as a worthy investment.

The mayor said U.S. attorneys were wrong to call the app a prototype, that it was instead a legitimate consumer product that once sold on the online Apple Store. App data reveals the last update to SnoOwl occurred in 2015.

"This is America. I am presumed innocent until proven otherwise. I will not allow political enemies to remove me from office," Correia said at his press conference in Fall River's Government Center.

"I will not resign," Correia said firmly ahead of a Fall River City Council meeting about his allegations and related issues. Some political leaders, like Governor Charlie Baker, said last week that Correia should "step aside" following the arrest.

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