A federal jury in Charlotte has brought down a notorious fraud scheme, convicting Sampson Pearson, 44, of Charlotte, of wire and tax fraud for defrauding his clients of more than half a million dollars.
According to the evidence presented in court, Pearson, a former financial representative, used his position to defraud at least 10 victims and his employer, Company A, of more than $570,000 through a fraudulent loan and disbursement scheme from 2004 to 2016.
Pearson, who worked as an independent contractor for Company A, submitted falsified loan applications and requests for disbursements in the victims’ names without their knowledge and approval, the jury found.
Company A authorized the loans and disbursements based on the fraudulent documents submitted by Pearson, who then directed the company to deposit the fraudulently-obtained funds into an account controlled by him.
Pearson used the funds to pay for personal expenses and to fund his lifestyle, with evidence showing that more than half of all the money he deposited into his bank account between 2011 and 2016 was money he stole from his victims.
Pearson also made Ponzi-type payments to some of his victims to further perpetuate his fraud scheme. Additionally, the government’s evidence established that Pearson committed tax fraud for tax years 2013 through 2016 by filing fraudulent tax returns with the IRS that did not reflect the additional personal income.
The jury convicted Pearson of tax fraud, wire fraud, and aggravated identity theft for using clients’ personally identifiable information (PII) to commit the wire fraud. He faces a maximum prison term of 20 years and a $250,000 fine for the wire fraud charge, a statutory maximum penalty of three years in prison and a $100,000 fine for filing a false tax return, and a mandatory two-year sentence consecutive to any other prison term imposed for the aggravated identity theft charge.
The case was investigated by USPIS and IRS-CI, with Assistant U.S. Attorneys Maria Vento and Graham Billings of the U.S. Attorney’s Office in Charlotte prosecuting the case.
A sentencing date for Pearson has not been set. As the Grimy Times continues to uncover and expose the dark underbelly of crime in the city, the conviction of Sampson Pearson serves as a reminder of the importance of accountability and the need for vigilant law enforcement.
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Key Facts
- State: North Carolina
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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