Bay Village man charged with mail fraud and tax evasion
A Bay Village man was charged via criminal information with mail fraud and tax evasion, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio.
Frederick C. Bryant, age 45, is accused of embezzling $505,832 from a victim that he guaranteed a 5 percent rate of return.
Bryant converted the money for his own personal use. Bryant also failed to report the funds to the IRS, according to the information.
If convicted, the defendant’s sentence will be determined by the court after review of factors unique to this case, including the defendant’s prior criminal record, if any, his role in the offense, and the characteristics of the violation. In all cases the sentences will not exceed the statutory maximum and in most cases it will be less than the maximum.
This case is being prosecuted by Assistant United States Attorney Vasile C. Katsaros, following an investigation by the Federal Bureau of Investigation and the Internal Revenue Service.
An information is only a charge and is not evidence of guilt. The Defendant is entitled to a fair trial in which it will be the government’s burden to prove guilt beyond a reasonable doubt.