Chesterton Tribune

 

 

Gets 42 months for wire fraud in investment scam

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A Merrillville resident has been sentenced to more than three years in federal prison after pleading guilty to wire fraud, the U.S. Attorney’s Office for the Northern District of Indiana said.

Eugene Wilson, 57, was sentenced last week to 42 months imprisonment, $1,696,919.45 in restitution, and one year of supervised release, the U.S. Attorney’s Office said.

“According to documents filed in this case, Wilson participated in a scheme to defraud and obtain money from three groups of investors by making false statements,” the U.S. Attorney’s Office said. “In 2006, in separate transactions, Wilson convinced investors to give him money, collectively more than 1.5 million dollars. As inducements, he promised to pay a high rate of return and return the money in a short time period. He also told the investors that their money, or most of it, would remain in a bank account.”

“After receiving the money from the investors, Wilson sent almost all of it to individuals who were in Europe, and spent the remaining money,” the U.S. Attorney’s Office said. “Wilson acknowledged that on October 25, 2006, he visited a Bank of America branch in Chicago and directed the bank to wire transfer $470,000 in one transaction, and $30,000 in another, to a bank account located in the country of Liechtenstein. When an investor provided him with $600,000, Wilson told him that his money was safe and most of it would remain in a bank account for ten days. He did not return any money to this investor.”

The case was investigated by the FBI.

 

Posted 2/10/2014