Texas Man Guilty Of Defrauding Area Lender
CONTACT: Barbara Burns
PHONE: (716) 843-5817
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ROCHESTER, N.Y.-U.S. Attorney William J. Hochul Jr. announced today that Bradley K. Boyd, 44, of Rhome, TX, pleaded guilty to wire fraud, before U.S. District Judge Elizabeth A. Wolford. The charge carries a maximum penalty of 20 years in prison, and a $250,000 fine.
Assistant U.S. Attorney John J. Field, who is handling the case, stated that Boyd owned and operated a construction business in the Dallas, Texas, area. The defendant entered into a factoring arrangement with a Rochester-area lender. The arrangement called for the lender to provide Boyd’s business with immediate cash in exchange for invoices owed to Boyd’s business. From March 2011 to July 2011, the defendant prepared approximately $1,200,000 in fraudulent invoices, and submitted them to the lender. Based upon the fraudulent invoices, the lender provided Boyd’s business with approximately $830,000 in cash.
The plea is the result of an investigation by Special Agents of the Internal Revenue Service, Criminal Investigation Division, under the direction of Shantelle P. Kitchen and Federal Bureau of Investigation, under the direction of Special Agent in Charge Adam S. Cohen.
Sentencing is scheduled for November 15, 2016, at 8:30 a.m. before Judge Wolford.