Annapolis Man Pleads Guilty To Two Counts Of Wire Fraud
FOR IMMEDIATE RELEASE Contact ELIZABETH MORSE
www.justice.gov/usao/md at (410) 209-4885
Baltimore, Maryland – Brian Arthur McCormick, age 57, of Annapolis, Maryland, pleaded guilty today to two counts of wire fraud stemming from a scheme to defraud victims through an advanced fee system.
The guilty plea was announced by Acting United States Attorney for the District of Maryland Stephen M. Schenning and Special Agent in Charge Gordon B. Johnson of the Federal Bureau of Investigation, Baltimore Field Office.
According to his plea agreement, McCormick provided forged bank statements to potential investors showing that one of his companies, Triton Structure Finance Group, LLC, (“Triton”) had an excess of $402 million. McCormick asked various investor victims to fund projects in exchange for a majority ownership of the project. He falsely promised that the victims would be compensated or would be fully refunded. However, McCormick stole their investment monies and used the funds on personal expenses.
In summer 2015, McCormick represented that Brittingham, a company incorporated in Louisiana, had been successfully trading medium term bank notes in Hong Kong since 2001 and had a number of bank guarantees and standby letters of credit totaling approximately $40 billion. Brittingham signed agreements with investors agreeing to split the profits 50-50 with the investors. The investors signed an agreement with McCormick to split profits with McCormick with 20% for the Defendant and 80% for the investor.
McCormick persuaded victims to invest through misrepresentations that he had personally invested his own funds with Brittingham. In September 2015, one victim invested one million euros. Brittingham has not repaid any investor and has not paid out any profits.
McCormick faces a maximum sentence of 40 years in prison. U.S. District Judge J. Frederick Motz has scheduled sentencing for December 7, 2017 at 2 p.m.
Acting United States Attorney Stephen M. Schenning commended the FBI for their work in the investigation. Mr. Schenning thanked Assistant United States Attorneys Joyce McDonald and Sean Delaney who are prosecuting the case.