☷Prince George Man Pleads Guilty to Multi Million Dollar Fraud Scheme
Federal Bureau of Investigation ( By Press Release office)
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Prince George Man Pleads Guilty to Multimillion Dollar Fraud Scheme RICHMOND , Va . – A Prince George man pleaded guilty yesterday to tax fraud and executing a conspiracy to defraud individual lenders , financial institutions , and his employer out of almost $9 million . According to court documents , from 2012 to 2020 , Robert W . Guidry , 54 , conspired with Christopher W . Elko , 51 , Petersburg , to enrich themselves by , among other methods , falsely purporting to sell ownership interests in businesses where the conspirators worked , obtaining fraudulent loans and other forms of credit from individual lenders and financial institutions , and embezzling money from their employer . As part of the conspiracy , Guidry solicited and induced individuals to lend him money under false pretenses , claiming that the loans would be used for investment purposes—when , in fact , Guidry actually used the money to pay for personal expenses or to repay other lenders . The conspirators also obtained loans and lines of credit from various financial institutions , relying on misrepresentations and deliberate omissions about Guidry’s personal financial status , such as the value of his assets and the amount of his liabilities . To repay the individual lenders and financial institutions they had fraudulently borrowed money from , and to pay their own personal expenses , the conspirators concocted a scheme to defraud their employer by misappropriating money through various frauds . For instance , the conspirators diverted customer payments owed to their employer to a bank account controlled by the conspirators , and fabricated payables to their employers’ vendors and others , depositing the payments into bank accounts they controlled . In total , the conspirators ' actions caused a total loss of more than $8 . 8 million to investors , banks , and their former employer . Guidry is scheduled to be sentenced on September 7 , 2022 . He faces a maximum penalty of 30 years in prison . Actual sentences for federal crimes are typically less than the maximum penalties . A federal district court judge will determine any sentence after taking into account the U . S . Sentencing Guidelines and other statutory factors . Jessica D . Aber , U . S . Attorney for the Eastern District of Virginia; Stanley M . Meador , Special Agent in Charge of the FBI’s Richmond Field Office; and Darrell J . Waldon , Special Agent in Charge , Washington , D . C . Field Office , IRS - Criminal Investigation ( IRS - CI ) , made the announcement after U . S . District Judge David J . Novak accepted the plea . Assistant U . S . Attorneys Kashan K . Pathan and Thomas A . Garnett and former Assistant U . S . Attorney Katherine Lee Martin prosecuted the case . A copy of this press release is located on the website of the U . S . Attorney’s Office for the Eastern District of Virginia . Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No . 3:22 - cr - 42 .
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