RICHMOND, Va. – The grimy truth has been laid bare as Larry Jay Horsey, 41, of Chesterfield, pleaded guilty to charges related to a multimillion-dollar investment fraud that bilked nine investors out of $1.9 million.
Horsey, the founder and operator of the so-called “Heroes Academy,” posed as a financial advisor while conducting seminars in Virginia and North Carolina. His scam? Persuading unsuspecting individuals to invest in what they thought were secure savings vehicles through his business. But Horsey’s promise was an empty one; he funneled their hard-earned money into personal and business expenses, leaving investors with nothing but shattered dreams.
According to the grim statement of facts, this financial predator targeted nine separate victims between October 2012 and May 2016. Today, Horsey faced the music, pleading guilty to charges of mail fraud and engaging in monetary transactions derived from specified unlawful activities. The court will decide his fate on March 17, 2017, when he faces up to 20 years in the slammer.
U.S. Attorney Dana J. Boente, FBI Special Agent Adam S. Lee, IRS-CI’s Thomas Holloman, and U.S. Postal Inspection Service Inspector Terrence P. McKeown joined forces to announce Horsey’s conviction after he was accepted by U.S. District Judge Henry E. Hudson. Assistant U.S. Attorney Thomas A. Garnett is the one leading the charge against this con artist.
Investigating Horsey’s crime spree were the Fraud Task Force, including the FBI’s Richmond Field Office, IRS-CI, and USPIS, with a helping hand from the Virginia State Corporation Commission. For more details, the press release can be found on the Eastern District of Virginia U.S. Attorney’s Office website, while court documents are available online.
Related Federal Cases
- Tax Fraud Fugitive Ramos Faces More Time · North Carolina
- Treyton Thomas Charged in $4.5M Investment Fraud Scheme · North Carolina
- North Carolina Check Fraud Kingpin Sentenced to 85 Months · Pennsylvania
- Paula Lane Sentenced for $150K Unemployment Fraud · North Carolina
- Ex-IRS Worker Hooper Pleads Guilty to $824K Health Care Fraud · North Carolina
Key Facts
- State: Virginia
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|White Collar Crime
- Source: Official Source ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News