Related Federal Cases
- Canton Woman Pleads Guilty to SNAP Fraud · Mississippi
- FDIC Appoints Five New Members to Advisory Committee on Community Banking · Mississippi
- Hernandez-Velazquez Gets 15+ Years for Brutal Sex Trafficking · Mississippi
- SNAP Scam: Canton Woman Admits $42K Benefit Theft · Mississippi
- 19 Arrested in International Romance Scam · Mississippi
Tony Leon Smith Sentenced for $5.2M Wire Fraud
ROCHESTER, N.Y.– A Georgia man has been sentenced to 96 months in prison for his role in a brazen wire fraud scheme that left two investors in the Western District of New York out $5,175,000.
Tony Leon Smith, 64, of Snellville, Georgia, was convicted after a jury trial of wire fraud and money laundering and ordered to pay restitution in the amount of $5,175,000 by U.S. District Judge Charles J. Siragusa.
According to prosecutors, Smith defrauded two investors in the Western District of New York in two separate high-yield investment schemes. The defendant claimed to be a multi-millionaire and experienced investor and employed an elaborate ruse to convince his victims that he had experience in international investments.
Smith promised his victims high-yield returns in a short period of time, convincing one victim to wire him $5,000,000 to an offshore bank account in St. Kitts. Instead of investing the amount as promised, the defendant wire-transferred the money back to himself and others into bank accounts in Rochester, NY. Neither victim ever got their money back.
The sentencing is the culmination of an investigation on the part of Special Agents of the Federal Bureau of Investigation, under the direction of Christopher M. Piehota and the United States Postal Inspection Service, under the direction of Kevin M. Niland, Inspector in Charge, Boston Division.
Assistant U.S. Attorneys Tiffany H. Lee and John J. Field, who handled the prosecution of the case at trial, praised the work of the investigators and expressed their satisfaction with the sentence. ‘This sentence sends a strong message to anyone who thinks they can defraud innocent investors,’ Lee said.
The case serves as a reminder to investors to be cautious and do their due diligence before investing in any scheme, especially those that promise unusually high returns. As Field noted, ‘these schemes often seem too good to be true, and they usually are.’
RELATED: SW Mississippi Men Face Federal Charges for Illegal Turkey Hunt
Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
