Tampa Bay Man Sentenced To More Than Six Years In Federal Prison For Defrauding Bank Of $20 Million
Tampa, Florida – U.S. District Judge Virginia Hernandez Covington today sentenced Loyd Tomlinson II (58, Ellenton) to six years and six 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 $240,000, the proceeds of the wire fraud. Tomlinson had pleaded guilty on September 28, 2021.
According to court documents, Tomlinson II and his father, Loyd Tomlinson Sr., 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 II and Tomlinson, Sr. devised a plan to fabricate documents and records to raise money from investors and financial institutions in hopes of salvaging LTA’s business.
Tomlinson II and others created 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 made a loan to LTA for approximately $20.6 million, which was not recovered.
Tomlinson, Sr. pleaded guilty for his involvement in the scheme on August 5, 2021. His sentencing hearing is scheduled for March 25, 2022.
This case was investigated by the Federal Bureau of Investigation. It was prosecuted by Assistant United States Attorney Rachel K. Jones.