Kaufman County Man Guilty of Federal Violations in the Eastern District of Texas
For Immediate Release
U.S. Attorney's Office, Eastern District of Texas
SHERMAN, Texas– A Terrell man has pleaded guilty to federal violations in the Eastern District of Texas, announced U.S. Attorney Damien M. Diggs today.
Michael Disman, 41, pleaded guilty to wire fraud charges before U.S. Magistrate Judge Aileen Goldman Durrett on July 19, 2023.
According to information presented in court, between January 2018 and March 2022, Disman operated an investment fraud scheme using various companies he controlled, including “Dexter Development” and “Disman Energy.” Disman solicited funds from victim investors for purported lucrative land development projects, when in reality, those projects were non-existent and the investor funds were spent elsewhere. To execute his scheme, Disman made various material misrepresentations about investor payouts and the use of investor money, executing sham contracts and sharing real estate paperwork to add legitimacy. Disman actually used the investor funds for various non-business purposes, including on ATM cash withdrawals and drug purchases. In total, Disman defrauded at least 20 victim investors and caused at least $3.2 million in losses.
Disman faces up to 20 years in federal prison. The maximum statutory sentence prescribed by Congress is provided here for information purposes, as the sentencing will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the U.S. Probation Office.
This case is being investigated by the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorney Anand Varadarajan.
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Updated July 20, 2023