Austin Man Sentenced for Defrauding Financing Company
AUSTIN – Yesterday, an Austin man was sentenced to 24 months in prison for defrauding a financing company.
According to court documents, David Wayne Jenkins, 38, was the owner and president of Fukushu, Inc., doing business as Double D Services (Double D). In February 2015, Jenkins agreed to sell Double D’s accounts receivable to Momentum Capital (Momentum), an accounts receivable financing company, to receive payments on invoices to companies that Double D performed work for.
From October 28, 2015 through December 29, 2015, Jenkins devised a fraud scheme to obtain payments for work Double D never performed. Jenkins created 17 false and fraudulent Double D invoices and related work tickets for work he purportedly performed for Martin Marietta. Although none of the work was performed, Jenkins sought payment for $1,013,385 in invoices.
“We are committed to prosecuting those who try to swindle money from others,” said U.S. Attorney Ashley C. Hoff. “Criminals looking to make a quick buck can find themselves behind bars, just like this defendant.”
“Our office is committed to protecting businesses from theft and fraud schemes which threaten the stability of our local economy and to holding fraudsters accountable for their crimes,” said FBI San Antonio Division Acting Special Agent in Charge Jason Hudson.
On September 29, 2021, Jenkins pleaded guilty to one count of wire fraud. In addition to the prison sentence, Jenkins was ordered to pay $560,628.07 in restitution, the amount of loss Momentum suffered.
The FBI investigated the case.
Assistant U.S. Attorney Sharon Pierce prosecuted the case.