Another New York Man Pleads Guilty to Participating in Fraud Scheme
ERIE, Pa. – A resident of Brooklyn, New York pleaded guilty in federal court to a charge of conspiracy to commit wire fraud, United States Attorney David J. Hickton announced today.
Olayinka Olurinde, 47, pleaded guilty to one count before United States District Judge David S. Cercone.
In connection with the guilty plea, the court was advised that Olurinde allowed bank accounts in his name and under his control to be used as repositories for fraudulently obtained federal tax refunds. Olurinde would then withdraw the fraudulently obtained refunds, keep a portion for himself and give the remainder of the money to another co-defendant. Olurinde also allowed his address to be used on other bank accounts which were fraudulently opened during the course of the conspiracy. Olurinde further agreed, as part of his guilty plea, to forfeit to the United States $81,000 found in his bedroom during the investigation, which was proceeds of his illegal activity.
Judge Cercone scheduled sentencing for December 8, 2016. The law provides for a maximum total sentence of 20 years in prison, a maximum fine of $250,000 or twice the amount of loss to the victims, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offense and the prior criminal history, if any, of the defendant.
Assistant United States Attorney Christian A. Trabold is prosecuting this case on behalf of the government.
The Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation conducted the investigation that led to the prosecution of Olurinde.