Chicago businessman Brian Blalock, 37, is facing federal charges for allegedly running a multi-year fraud scheme that swindled customers and investors out of at least $350,000. Prosecutors say Blalock used fake promises of profits from industrial equipment deals to funnel cash into his personal lifestyle while delivering nothing in return.
Blalock, of Chicago, was indicted Thursday on nine counts of wire fraud in U.S. District Court. The charges stem from his operation of three shell businesses — PWC Holdings LLC, Brian Blalock LLC, and Parkwood Companies LLC — through which he claimed to trade trucks, construction machinery, oil field equipment, and generators. Victims were told they could either buy equipment directly or invest in deals that promised substantial returns.
According to the indictment, those promises were lies. Blalock never intended to deliver equipment or generate profits for investors. Instead, he allegedly used the funds to cover rent, utilities, restaurant meals, and personal retail purchases. The scheme ran from 2018 to 2021, during which time he systematically defrauded individuals who trusted his word.
The case was announced by John R. Lausch, Jr., U.S. Attorney for the Northern District of Illinois, and William Hedrick, Inspector-in-Charge of the U.S. Postal Inspection Service in Chicago. The Illinois Securities Department provided critical support in the investigation. The government is being represented by Assistant U.S. Attorneys Jacqueline Stern, Brian Havey, and Matthew Getter.
Each count of wire fraud carries a maximum penalty of 20 years in federal prison. While Blalock remains presumed innocent until proven guilty, the indictment lays bare a pattern of deceit that prosecutors say left victims out hundreds of thousands of dollars. An arraignment date has not yet been set.
Federal authorities are reminding the public that an indictment is not evidence of guilt. The defendant is entitled to a fair trial, and the burden remains on the government to prove guilt beyond a reasonable doubt. If convicted, the court must impose a sentence consistent with federal law and the U.S. Sentencing Guidelines.
RELATED: Brian Blalock Indicted in $350K Wire Fraud Scheme
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Key Facts
- State: Illinois
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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