In a recent indictment announced by the U.S. Attorney’s Office in the Northern District of Illinois, two Kentucky men, Mark Carroll and Luke Curry, have been charged with fraudulently obtaining millions of dollars from investors and customers throughout the United States. The indictment alleges that Carroll and Curry created several limited-liability companies and used false pretenses to obtain funds from victims. They allegedly offered lines of credit in exchange for deposits, but never actually funded the credit lines. The defendants also entered into private loan agreements with victims, promising repayment and guaranteed rates of return that were never fulfilled. Carroll and Curry have been charged with six counts of wire fraud, with each count carrying a maximum sentence of 20 years in federal prison if convicted.
Overview of the Case
Charges against Two Kentucky Men
In a recent development, two individuals from Kentucky have been charged with scheming to obtain millions of dollars from victims in Illinois and throughout the United States. The charges include wire fraud, and the indictment alleges that Mark Carroll and Luke Curry fraudulently obtained money from investors and customers by creating multiple limited liability companies and making false promises to victims.
Obtaining Millions of Dollars from Victims
Carroll and Curry are accused of fraudulently obtaining millions of dollars from victims through their scheme. They allegedly created fraudulent companies, such as Catapult Marketing, LLC, and Catapult Funding LLC, and used false pretenses, representations, and promises to deceive victims into providing them with money.
Creation of Fraudulent Companies
As part of their scheme, Carroll and Curry created multiple limited liability companies. These companies, including Catapult Marketing, LLC, and Catapult Funding LLC, were used to carry out their fraudulent activities and deceive victims into providing them with money.
Indictment and Arrests
Federal Grand Jury Charges
A federal grand jury in Rockford has issued an indictment charging Mark Carroll and Luke Curry with six counts of wire fraud. The indictment alleges that the two individuals fraudulently obtained millions of dollars from victims by making false promises and misrepresentations.
Arrests of Mark Carroll and Luke Curry
Both Mark Carroll and Luke Curry were arrested last week in Kentucky. The arrests were made in connection with the charges of wire fraud brought against them by the federal grand jury in Rockford.
Arraignments for Mark Carroll and Luke Curry have been scheduled to take place in federal court in Rockford. U.S. Magistrate Judge Lisa A. Jensen will preside over the arraignments, which are set for Wednesday at 10:00 a.m.
Fraudulent Scheme Details
Creation of Limited Liability Companies
Mark Carroll and Luke Curry are accused of creating multiple limited liability companies to carry out their fraudulent activities. These companies, including Catapult Marketing, LLC, and Catapult Funding LLC, were used to deceive victims and obtain money through false pretenses and promises.
False Promises to Victims
As part of their scheme, Carroll and Curry made false promises to victims. They allegedly offered a line of credit in exchange for victims’ initial deposits, without actually funding the line of credit. Additionally, the indictment alleges that the defendants entered into private loan agreements with victims, falsely promising to repay the principal and interest at maturity.
Non-payment of Guaranteed Returns
Carroll and Curry are accused of failing to pay the guaranteed rates of returns to victims as promised. According to the charges, the defendants did not fulfill their obligations under the loan agreements and did not pay victims in accordance with the terms of their agreements.
Announcement of Arrests
Acting United States Attorney and FBI Special Agent-in-Charge
The arrests and indictment of Mark Carroll and Luke Curry were announced by Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, and Robert W. “Wes” Wheeler, Jr., Special Agent-in-Charge of the Chicago Office of the FBI. This announcement highlights the cooperation between federal law enforcement agencies in investigating and prosecuting financial fraud cases.
Assistance from U.S. Postal Inspection Service
The U.S. Postal Inspection Service provided valuable assistance in the investigation of Carroll and Curry’s fraudulent scheme. This collaboration between law enforcement agencies demonstrates the commitment to combatting financial fraud and protecting victims.
Legal Proceedings and Potential Sentence
Presumption of Innocence
It is important to note that Carroll and Curry are presumed innocent until proven guilty. An indictment only contains charges and is not evidence of guilt. The defendants are entitled to a fair trial, and the government has the burden of proving guilt beyond a reasonable doubt.
Maximum Sentence for Wire Fraud
Each count of wire fraud carries a maximum sentence of 20 years in federal prison. If Carroll and Curry are convicted, the court must impose reasonable sentences under federal sentencing statutes and consider the advisory U.S. Sentencing Guidelines.
Advisory U.S. Sentencing Guidelines
The advisory U.S. Sentencing Guidelines provide a framework for federal judges to determine appropriate sentences in criminal cases. These guidelines take into account factors such as the nature and seriousness of the offense, the defendant’s criminal history, and any mitigating or aggravating circumstances.
Seeking Potential Victims
FBI’s Request for Help
The FBI is seeking the public’s help in identifying potential victims of the fraudulent schemes associated with Carroll and Curry. This request for assistance is crucial in the investigation and prosecution of the case. Victims who come forward may be eligible for certain services and rights under federal and/or state law.
Identification of Crimes Investigated
The FBI is legally mandated to identify crimes it investigates. In this case, the FBI is specifically focusing on identifying the victims of the alleged fraud schemes carried out by Carroll and Curry. By identifying and contacting potential victims, law enforcement agencies can gather essential information to build a strong case.
Eligibility for Services and Rights
Identified victims of the fraudulent schemes may be eligible for certain services and rights under federal and/or state law. These services can provide support and assistance to victims during the course of the investigation and legal proceedings. Victims who believe they are potential victims and have not been contacted should reach out to the FBI for further information.
Contact Information for Potential Victims
Email Address for Reporting
Potential victims who believe they have been affected by the fraudulent schemes associated with Carroll and Curry are encouraged to report their information to the FBI via email. The email address provided for reporting is finfraud2023@FBI.GOV. Victims should include relevant details and any supporting documentation to aid in the investigation.
Phone Number for Contacting the FBI
Additionally, potential victims can contact the FBI by phone. The phone number provided for contacting the FBI is 1-800-CALL-FBI. By reaching out to law enforcement, victims can provide important information and contribute to the investigation.
Related Financial Fraud Topics
Financial Fraud and Securities
Financial fraud, including securities fraud, is a serious offense that undermines the integrity of the financial markets and can cause significant harm to investors. Cases like the one involving Carroll and Curry highlight the importance of vigilant regulatory oversight and enforcement in protecting investors and maintaining market confidence.
Commodities and Investment Fraud
Commodities and investment fraud schemes can involve deceptive practices that lure individuals into making investments based on false promises and representations. These schemes can result in devastating financial losses for victims. It is crucial for individuals to exercise caution and conduct thorough due diligence before making any investment decisions.
Components of FBI and USAO
The Federal Bureau of Investigation (FBI) and the United States Attorney’s Office (USAO) play critical roles in investigating and prosecuting financial fraud cases. The FBI focuses on identifying and combating various forms of fraud, while the USAO is responsible for prosecuting federal crimes and seeking justice on behalf of the government and its citizens.
Other Fraud Cases in Illinois
Fraud Scheme by Former DCFS Employee
In another recent fraud case in Illinois, a former employee of the Illinois Department of Children and Family Services (DCFS) was charged with orchestrating a $3.2 million fraud scheme. The indictment alleges that the individual carried out the scheme while working for DCFS in Chicago.
Guilty Verdict of Board Members of Failed Bank
Three board members of a failed Washington Federal Bank in Chicago were found guilty of falsifying records and obstructing regulators. The federal investigation led to criminal charges against 16 defendants, including high-ranking employees of the bank.
Conviction of Grundy County Businessman
A businessman from Grundy County, Illinois, was convicted of investment fraud. The individual owned a company called Today’s Growth Consultant, Inc., which operated under the name The Income Store. The conviction highlights the consequences of engaging in fraudulent investment activities.
Contact Information for USAO in Illinois
Addresses and Email Contacts for Chicago and Rockford Divisions
For individuals who wish to contact the United States Attorney’s Office (USAO) in Illinois, the following addresses and email contacts are provided:
- Address: 219 S. Dearborn St., 5th Floor, Chicago, IL 60604
- Email: USAO-NDIL Chicago
- Address: 327 S. Church Street, Room 3300, Rockford, IL 61101
- Email: USAO-NDIL Rockford
Phone Numbers for Chicago and Rockford Offices
For inquiries or assistance, individuals can reach the USAO in Illinois by phone at the following numbers:
- Chicago Division: (312) 353-5300
- Rockford Division: (815) 987-4444
By contacting these offices, individuals can obtain further information and guidance regarding their specific concerns or inquiries related to fraud cases and legal proceedings.