YCMTSU

A man defrauded hundreds of victims of $$$ millions —in TN & FLA

In 2006 and 2007, a criminal enterprise based in Tennessee, defrauded nearly 200 victims — many of them elderly or otherwise vulnerable — of over $30 million. Complaints about, and investigations of, the organizers began. But before law enforcement action could be taken, the enterprise had moved operations. Beginning in 2008 and continuing through 2012, the organizers carried on similar fraudulent activities in Florida. Hundreds of more victims were cheated of many more millions of dollars.

The Tennessee prosecutions of the main organizers began as early as 2010. County, state, and eventually federal investigators and prosecutors took action. The mastermind of the scheme was convicted of three counts of mail fraud, four counts of wire fraud, and two counts of money laundering. In August, 2013, he was sentenced to over 31 years in federal prison, to be followed by three years of supervised release. He was order to pay over $6 million dollars in fines and forfeitures. In September, 2015, the United States Court of Appeals for the 6th Circuit affirmed his convictions and his sentence. His release date is set for 2040.

The factors that the sentencing judge considered were: 1) the large losses; 2) his leadership role in the enterprise; 3) his misrepresentations that the criminal enterprise was a charitable foundation; 4) the sophisticated nature of the scheme; and 5) the large number of vulnerable victims.

You can’t make this stuff up.