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Lexington County Men Sentenced to Federal Prison for Wire Fraud Scam
COLUMBIA, S.C. – In a case that exposes the darker side of online scams, Kenneth J. Brown, 45, and Nicholas R. Shepard, 46, both of Lexington, have each been sentenced to 16 months in federal prison for their involvement in business email compromise and romance scams.
The evidence obtained in the investigation revealed that Brown and Shepard coordinated with others to receive checks from victims of the business email compromise and romance scams through the United States mail to their business, Golden Eagle Precious Metals Exchange in Irmo. After receiving the checks, Brown and Shepard deposited them into their business account and then converted the money into cryptocurrency.
Senior United States District Judge Joseph F. Anderson, Jr. handed down the sentences, which will be followed by a three-year term of court-ordered supervision. It’s worth noting that there is no parole in the federal system. Although a potential fine was waived, Brown and Shepard were ordered to pay $415,196.66 in restitution to the victims of their crimes. Brown and Shepard are jointly and severally liable for the restitution.
The case was investigated by the United States Secret Service, the United States Postal Inspection Service, the
According to court documents, Brown and Shepard’s scheme involved using business email compromise and romance scams to swindle unsuspecting victims out of their hard-earned cash. The two men would then convert the stolen funds into cryptocurrency, making it difficult to track the money and recover it for the victims.
The sentences handed down by Judge Anderson mark the latest development in a case that highlights the growing threat of online scams and the importance of vigilance when dealing with unsolicited emails and messages.
As the Grimy Times continues to investigate this case, we will provide updates on any new developments. In the meantime, we urge our readers to be cautious when dealing with online transactions and to report any suspicious activity to the authorities.
Key Facts
- State: South Carolina
- Category: Fraud & Financial Crimes|Cybercrime
- Source: DOJ Press Release â†â€â€
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