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Former Business Owner Faces 60 Years In Prison for Participation In Wire Fraud

According to the Acting U.S. Attorney for the Northern District of Texas, a former business owner recently pled guilty to two counts of engaging in monetary transactions in property derived from unlawful activity and two counts of wire fraud. If convicted, he could spend up to 60 years in federal prison. He already received a prison sentence of at least five years for pleading guilty to four counts of wire fraud in another case. He was also required to pay $2,071,925 in restitution.

According to court documents, the 31-year-old man engaged in his crimes while he was on pretrial release. He established an unregistered sole proprietorship for trenching and freight services in West Texas. He was able to sell his company’s accounts receivable to other businesses through the process of “factoring.” Factoring allows upfront payment of services at a portion of the value listed on the invoices.

However, the defendant admitted to creating false invoices for services he never performed and didn’t intend to perform. He also pretended to be an employee of one of the companies he was supposedly doing business with and even obtained a phone number and email address for that identity. Through his factoring scheme, he was able to fabricate 38 invoices for a total of $12.3 million in services. He used the money he made to make multiple large purchases, including a new home and farm equipment.

Defend Your Rights With Rosenthal Kalabus & Therrian

The criminal defense lawyers of Rosenthal Kalabus & Therrian understand the stress of an uncertain future. You worry about what a conviction could do to your reputation and family. Being charged with a crime can be an overwhelming experience to go through, and we can help. When you hire us, we will determine the best legal strategy to secure your future. Our goal is to get the charges you’re facing dropped, or your entire case dismissed. We will be your advocate and fight for your freedom.

Defending yourself against criminal charges is something you shouldn’t take on alone. Having an experienced and dedicated attorney in your corner could increase the chance of reaching a favorable outcome. We can perform an investigation and gather the crucial evidence necessary to support our case. We’re not afraid to fight the prosecutors in court and tear apart their reasons for finding you guilty of the crime.

At Rosenthal Kalabus & Therrian, our criminal defense lawyers treat our clients like a priority. We will provide the personalized attention and service you need and deserve. We’re available to speak with you 24/7 to answer your questions and address your concerns. You can depend on our legal team to tirelessly review every possible option for proving your innocence and securing your freedom and future.

Rosenthal Kalabus & Therrian is ready to discuss your case during a free and confidential consultation. Call us at (972) 369-0577 right now if you were arrested or charged with a misdemeanor or felony offense in Texas. We will determine if we can represent you and start preparing your defense immediately.