Kenneth Hasse, who was chairman at now bankrupt ConServe Corporation, was charged Friday with one count of conspiracy to commit wire fraud and one count of tax evasion for defrauding investors out of $8 million to finance ConServe.

Hasse, who lives in Chaska, is the second man charged in relation to the scheme-David McCaffrey, a businessman from Wayzata, was charged and sentenced to two-and-a-half years in prison for his role in the fraud scheme.

According to court documents, which were filed in U.S. District Court in St. Paul, Hasse devised a scheme-with the help of others-to defraud investors of $8 million that was used to finance ConServe.

From October 2004 to February 2007, Hasse allegedly secured financing from investors for electricity sub-metering equipment installation projects that didn't exist.

According to the Star Tribune, Hasse was also founder of ConServe in addition to being chairman. Hasse's attorney-Timothy Anderson of the Law Offices of Timothy R. Anderson in Red Bank, New Jersey-would not confirm whether he founded the company or comment on the charges.

The documents also allege that Hasse only reported $200,000 in taxable income in 2004 when it was “substantially in excess” of that amount.

ConServe provided electricity sub-metering services. It was based in Minnetonka.