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Louisville Attorney Charged with Wire Fraud and Money Laundering
David Cary Ford, 53, of Louisville, Kentucky, has been charged with criminal counts of wire fraud and money laundering, stemming from his activities as a practicing attorney and executor of seven estates in Louisville.
According to the criminal information, Ford allegedly defrauded the estates of Saundra A. Benzinger, Kenneth L. Keith, William T. Lawson, Mary Helen Pfeffer, Elinor E. Starr, Mary Augustine Starr, and Richard Steinmetz, out of approximately $1,666,671.18 between November 6, 2008, and February 11, 2015.
The fraud, which was discovered through an investigation conducted by the Internal Revenue Service – Criminal Investigation Division and the Federal Bureau of Investigation, is alleged to have involved Ford using the estates’ funds for personal expenses and enjoyment, including significant gambling activity.
Specifically, as executor of the estates, Ford was authorized to pay estate expenses at various banks, but he also used these estate accounts to withdraw cash and pay his personal expenses with estate client funds. He then mischaracterized these withdrawals as estate expenses.
For example, Ford made a $4,000 cash withdrawal from an account belonging to the Estate of Kenneth L. Keith at PNC Bank on May 22, 2013.
The criminal information also alleges that Ford laundered fraud proceeds by using funds from one estate to conceal the depletion of funds from another estate. For instance, on July 24, 2014, Ford took $35,960.18 from the estate of Elinor E. Starr in a cashier’s check, deposited those funds into his escrow account, and then used $25,000 of those funds to pay a beneficiary of the Estate of Kenneth L. Keith.
U.S. Attorney John E. Kuhn, Jr. stated, ‘Attorneys are professionally and ethically bound to serve their clients’ best interests. We simply cannot tolerate attorneys or any other fiduciaries using their positions of trust to steal from those they are obligated to protect.’
The case is being prosecuted by Assistant United States Attorney Jason Snyder, and Ford faces a maximum of 40 years’ imprisonment, $750,000 in fines, and supervised release for a period of three years if convicted.
Key Facts
- State: Kentucky
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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