Texas Man Charged With Wire Fraud And Money Laundering
CONTACT: Barbara Burns
PHONE: (716) 843-5817
FAX: (716) 551-3051
ROCHESTER, N.Y.-U.S. Attorney William J. Hochul Jr. announced today that Bradley Boyd, 43, of Rhome, Texas, was charged by criminal complaint with wire fraud and money laundering. The charges carry a maximum penalty of 20 years in prison and a $500,000 fine.
Assistant U.S. Attorney John J. Field, who is handling the case, stated that according to the complaint, Boyd was president of River Cities Sawing (RCS), a concrete business involved in highway infrastructure projects. RCS entered into a factoring arrangement with a New York financing company, Durham Funding.
Boyd caused RCS to prepare and submit to Durham Funding approximately 60 fraudulent invoices totaling $1,500,000. Based on the fraudulent invoices, the financing company sent RCS approximately $970,000 between March 1, 2011 and July 1, 2011. The defendant used the money to make payments on loans, pay RCS expenses and pay personal expenses.
Boyd made an initial appearance today before U.S. Magistrate Judge Marian W. Payson and was released on conditions. He is due back in court on February 3, 2016, at 9:00 am.
The criminal complaint is the result of an investigation by the Federal Bureau of Investigation, under the direction of Special Agent in Charge Adam S. Cohen and Internal Revenue Service, Criminal Investigation Division, under the direction of Shantelle P. Kitchen, Special Agent in Charge.
The fact that a defendant has been charged with a crime is merely an accusation and the defendant is presumed innocent until and unless proven guilty.