Greene County Man Pleads Guilty to Defrauding Investors
PITTSBURGH, PA – Robert Irey, 59, of Clarksville, PA 15322 has admitted to defrauding investors in a waste-to-energy conversion plant, according to a guilty plea in federal court.
In connection with the guilty plea, Irey’s coconspirators owned and ran a company called Alternative Energy Holdings, LLC (“AEH”). The defendants informed victims that AEH was going to build a plant that would convert biodegradable waste into energy.
The defendants offered victims an opportunity to invest in AEH, soliciting short-term loans that offered high interest rates and, in some cases, an ownership interest in AEH. The victims were told their funds would be used for business expenses. However, after victims provided funds to AEH, the defendants often split the money three ways and used it for personal use.
Between approximately June 2016 until April 2018, approximately 22 victims loaned AEH $2,017,228.44.
Robert Irey pleaded guilty to one count of conspiracy to commit mail fraud and wire fraud before United States District Judge Robert J. Colville.
The law provides for a total sentence of 20 years in prison, a fine of $250,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offense and the prior criminal history, if any, of the defendant.
Robert Irey is scheduled to be sentenced on March 24, 2021.
Assistant United States Attorney Lee J. Karl is prosecuting this case on behalf of the government.
The United States Postal Inspection Service and Federal Bureau of Investigation conducted the investigation that led to the prosecution of Irey.
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Key Facts
- State: Pennsylvania
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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