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June 2, 2010

KINGSVILLE MAN INDICTED FOR FRAUD, MONEY LAUNDERING AND AGGRAVATED IDENTITY THEFT

(CORPUS CHRISTI, Texas) – Douglas Eugene Vannoy, 57, of Kingsville, Texas, has been arrested following the return of a federal indictment charging him with mail fraud, bank fraud, aggravated identity theft and money laundering, United States Attorney José Angel Moreno announced today.

The 27-count indictment was returned by a Corpus Christi Grand Jury Wednesday, May 26, 2010. Vannoy was arrested without incident last night at his Kingsville home by agents of the United States Postal Inspection Service (USPIS). Vannoy made an initial appearance today before U.S. Magistrate Judge B. Janice Ellington. An arraignment has been scheduled for June 4, 2010, at 9:00 a.m.

Vannoy is accused of seven counts of mail fraud which allege that between November 2006 and September 2008, Vannoy, in his role as a financial advisor, presented fraudulent requests to have checks drawn on one of his client’s accounts issued in the name of “Advantage Marketing.” These checks, totaling more than $73,000, were mailed to a P.O. box in Corpus Christi rented by Vannoy and later deposited into the “Doug Vannoy DBA Advantage Marketing” bank account under Vannoy’s control, according to allegations in the indictment. A conviction for mail fraud carries a maximum punishment of 20 years in federal prison and a fine of not more than $250,000.

The indictment also accuses Vannoy of six counts of bank fraud. In July 2008, Vannoy’s client, identified as J. M. K. in the indictiment, died of natural causes. Several months later, in November 2008, a bank account was opened in the name of “J. M. K. Advantage Marketing.” The indictment alleges that between November 2008 through April 2009 all the funds in that account, totaling approximately $26,773, came from the deceased client’s bank accounts and were transferred from accounts owned by the client’s estate or were proceeds from royalty checks owned by the deceased client which contained forged endorsements. A conviction for bank fraud carries a maximum punishment of 30 years imprisonment and a fine of not more than $1,000,000.   

Vannoy is also charged with two counts of aggravated identity theft which accuse Vannoy of using his former client’s name and social security number without permission in relation to the bank fraud charges. If convicted of aggravated identity theft, Vannoy faces two years in federal custody on each count of conviction and a fine of not more than $250,000. The sentence for an aggravated identity theft conviction must be served consecutive to any other prison term that may be imposed.

Lastly, the indictment charges Vannoy with 12 counts of money laundering between November 2008 and April 2009. Each count alleges a specific financial transaction allegedly undertaken by Vannoy involving funds totaling $20,750 from the J. M.K. Advantage Marketing account with the intent to disguise the nature, location, source, ownership or control of the proceeds alleged in the mail or bank fraud counts. A money laundering conviction carries a maximum penalty of 20 years imprisonment and a fine of not more than $500,000.

The case was investigated by USPIS Inspectors and is being prosecuted by Assistant United States Attorney Robert D. Thorpe Jr.   

An indictment is a formal accusation of criminal conduct, not evidence.
A defendant is presumed innocent unless and until convicted through due process of law.

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