Amherst Man Sentenced For Wire Fraud And Money Laundering In Scheme That Bilked Three Victims Out Of More Than $800,000

CONTACT: Barbara Burns
PHONE: (716) 843-5817
FAX #: (716) 551-3051

BUFFALO, N.Y. - U.S. Attorney James P. Kennedy, Jr. announced today that Raymond Clark, 42, of East Amherst, NY, who was convicted of wire fraud and money laundering, was sentenced to serve 27 months in prison by Chief U.S. District Judge Frank P. Geraci.

Assistant U.S. Attorney Elizabeth R. Moellering, who handled the case, stated that Clark induced three victims to send him $870,000 for supposed investments, including investments in hedge funds and publicly traded companies. Instead of investing the monies as promised, the defendant kept the money and spent it on personal expenses to fund his lavish lifestyle including payments to his country club and expensive vacations. As part of the plea agreement, Clark will pay full restitution to the victims.

Today’s sentencing is the result of an investigation by the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Gary Loeffert, and the Internal Revenue Service, Criminal Investigation Division, under the direction of Jonathan D. Larsen, Acting Special Agent-in-Charge, New York Field Office.

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