Wheeling Businessman Convicted Of Defrauding Mortgage Customers
For Immediate Release
U.S. Attorney's Office, Northern District of West Virginia
1125 Chapline Street, Federal Building, Suite 3000 ● Wheeling, WV 26003
(304) 234-0100 ● Contact: Tara Tighe, Public Affairs Specialist
WHEELING, WEST VIRGINIA – Wheeling businessman Mark C. Busack was convicted today on charges that the defrauded customers of his mortgage brokerage business, United States Attorney William J. Ihlenfeld, II, announced.
Busack, age 51, pled guilty this morning to four counts of “Use of an Unauthorized Access Device” and one count of “Filing a False S Corporation Income Tax Return.” He faces up to ten years in prison and fine of up to $250,000.00 on each of the four access device counts and up to three years in prison and fine of up to $100,000.00 on the tax charge. Under the Federal Sentencing Guidelines, the actual sentence imposed will be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.
By pleading guilty, Busack admitted to a scheme to defraud his mortgage customers by making hundreds of unauthorized charges to credit and debit accounts amounting to hundreds of thousands of dollars in fraudulent activity. He also admitted to underreporting his income in 2012 by $309,949.42.
The matter was investigated by the Federal Bureau of Investigation, the Internal Revenue Service-Criminal Investigation Section, the Ohio County Sheriff’s Department and the Wheeling Police Department.
United States Attorney Ihlenfeld and Assistant U.S. Attorney Jarod J. Douglas are prosecuting the case on behalf of the federal government.
Senior U.S. District Judge Frederick P. Stamp presided.
Updated January 7, 2015