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Man arrested for fraud stole $14 million from Kentucky investor

On Behalf of | Jan 22, 2021 | Criminal Defense |

While all crime is considered a serious matter in the eyes of the law, certain convictions may come with higher sentences than others. White collar crimes, particularly those that are tried in federal court, may not only result in significant prison time, but can often cause severe damage to a person’s personal and professional reputation. One man recently charged with multiple counts of fraud stands accused of stealing about $14 million from a Kentucky investor and a guilty verdict could have a profound and negative impact upon his life.

Officials claim that the accused was appointed by the investor to run a trucking company. Over a period of four and a half years, the man allegedly defrauded the investor out of almost $14 million by misrepresenting the company’s finances. He allegedly created false customer contracts and financial statements that made it appear as though the company was more profitable than it actually was. He would then reportedly request more investments for business expenses, but spend it on himself.

The FBI and IRS began investigating the man, though it is not exactly clear when. He is also accused of title-washing during the same time period as well as falsifying paperwork to obtain a mortgage loan. He has been charged with multiple crimes, including several counts of wire fraud and money laundering.

Though the federal charges against this man involve a significant amount of money, he is still afforded the normal protection that the American justice system offers to all those accused of criminal activity. That is, that every individual is presumed innocent until and unless proven guilty beyond a reasonable doubt. Fraud charges carry the possibility of a long prison sentence and it is important that those accused think about what an experienced criminal defense attorney may be able to offer them.