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Justice News

Department of Justice
U.S. Attorney’s Office
Middle District of Florida

FOR IMMEDIATE RELEASE
Friday, April 8, 2022

Tampa Bay Man Sentenced To More Than Four Years In Federal Prison For Defrauding Bank Of $20 Million

Tampa, Florida – U.S. District Judge Virginia Hernandez Covington has sentenced Loyd Tomlinson, I (St. Petersburg, 79) to four years and four months in federal prison for defrauding a federally insured financial institution out of more than $20 million. As part of his sentence, the Court also entered a money judgment in the amount of $400,000, the proceeds of the fraud. Tomlinson had pleaded guilty on August 5, 2021.

According to court documents, Tomlinson, I and his son, Loyd Tomlinson II, owned and operated LTA International Global Services LLC (“LTA”), a distribution company. In or around 2015, LTA began to have severe financial problems. In 2016, Tomlinson, I and Tomlinson, II devised a plan to fabricate documents and records to raise money from investors and financial institutions in hopes of salvaging LTA’s business. 

Tomlinson, I instructed others to create fake bank statements, inflated sales, accounts receivable, and inventory documents; borrowed money from private investors (who were often also provided fake documents) as off-the-book loans; used other entities as possible alter egos to raise money or divert sales off the books; and concealed from others the true facts about the financial state of LTA. Based on these false statements and representations, in or around July 2019, a financial institution loaned LTA approximately $21 million, which was not recovered.

This case was investigated by the Federal Bureau of Investigation. It was prosecuted by Assistant United States Attorney Rachel K. Jones. Asset forfeiture and restitution matters were handed by Assistant United States Attorneys Julie A. Simonsen and Suzanne Nebesky.

Topic(s): 
Financial Fraud
Component(s): 
Updated April 8, 2022