LEXINGTON, Ky. – A Paris man was indicted by a federal grand jury today, and charged with engaging in crop insurance fraud.
The grand jury, sitting in Lexington, returned a five-count indictment charging 49-year-old Keith A. Foley with four counts of making false statements to influence the Federal Crop Insurance Corporation (“FCIC”) and companies the FCIC reinsures, and one count of conspiring to commit wire fraud in the course of defrauding private insurance companies.
The indictment alleges that as early as crop year 2010, Foley, a tobacco producer in Bourbon and Jessamine Counties, hid his tobacco production from insurance companies, in order to claim damage to his crop sufficient to trigger crop insurance indemnity payments or generate larger indemnity payments, which are funded by the federal government through the FCIC.
Foley faces up to 30 years in prison for each charge of making false statements to the FCIC, and a fine of $1,000,000. For the conspiracy to commit wire fraud, Foley faces up to 20 years in prison and a fine of $250,000.
The investigation preceding the indictment was conducted by the United States Department of Agriculture Office of Inspector General, United States Department of Agriculture Risk Management Agency, Federal Bureau of Investigation, Internal Revenue Service-Criminal Investigation, and Kentucky Department of Insurance. The indictment was presented to the grand jury by Assistant U.S. Attorneys Kathryn M. Anderson and Erin M. Roth.
A date for Foley to appear in court has not yet been scheduled. Any sentence following a conviction would be imposed by the Court, after its consideration of the U.S. Sentencing Guidelines and the federal statutes.
Any indictment is an accusation only. A defendant is presumed innocent and is entitled to a fair trial at which the government must prove guilt beyond a reasonable doubt.
Key Facts
- State: Kentucky
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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