Gerald Kent, 51, of Groton, CT, owner and operator of Kent Jewelry in Johnston, RI, is facing serious consequences after being charged with a multi-million dollar fraud scheme.
According to authorities, Kent orchestrated a long-running scheme that defrauded a debtor finance company out of more than $3.6 million.
The scheme allegedly involved submitting fraudulent invoices to the finance company, mostly from Groupon and Zulily, resulting in payments to Kent of nearly $5 million.
Kent’s plan also involved creating hundreds of fake invoices, cloning Groupon’s website, enlisting accomplices to pose as Groupon employees, and opening bank accounts in the names of Groupon and Zulily.
Factoring companies provide working capital to businesses by buying their accounts receivable at a discount. In this case, Kent took advantage of this system to deceive the finance company.
Kent was arrested on Wednesday evening at Foxwoods and made an initial appearance in U.S. District Court in Providence on July 26, 2017, where he was ordered detained pending a detention hearing.
The case is being prosecuted by Assistant U.S. Attorneys Lee H. Vilker and John P. McAdams, with the U.S. Secret Service and FBI investigating.
A criminal complaint is merely an allegation and is not evidence of guilt. Kent is entitled to a fair trial, where the government will have to prove his guilt beyond a reasonable doubt.
The defendant, Gerald Kent, has been charged with wire fraud and aggravated identity theft, with a total of nearly $5 million in payments received.
The state of Rhode Island is involved in the case, with the crime taking place in Johnston, RI.
Key Facts
- State: Rhode Island
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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