William B. Sink, Wire Fraud, Virginia 2022

Lebanon, Virginia Man Pleads Guilty to $1.4 Million Wire Fraud

A Lebanon, Virginia man, William B. Sink, 55, has pleaded guilty to one count of wire fraud for his role in a scheme to obtain $1.4 million from an out-of-state aircraft company.

According to the investigation, in July 2022, Sink and an unidentified co-conspirator, identified as “Vanessa,” created a fictitious business, “The Rockn U Farms, LLC,” and opened a business checking account at Truist Bank in Lebanon, Virginia for the sole purpose of obtaining money fraudulently.

Over the course of several months, The Rockn U Farms LLC business account received several wire transfers totaling approximately $1.4 million from a Minnesota company that sells personal aircraft. Sink immediately transferred the proceeds to various bank accounts and cryptocurrency exchanges at the direction of “Vanessa.” He also made cash withdrawals and transfers to his personal Truist bank account in the amount of nearly $10,000.

The case was investigated by the Russell County Sheriff’s Office and the Internal Revenue Service - Criminal Investigation. Assistant U.S. Attorney Lena L. Busscher is prosecuting the case. United States Attorney Christopher R. Kavanaugh of the Western District of Virginia and Special Agent in Charge, Kareem A. Carter of the Internal Revenue Service – Criminal Investigation, Washington D.C. Field Office, made the announcement.

At sentencing, scheduled for February 22, 2024, Sink faces up to 20 years in prison.

The scheme was uncovered after an investigation revealed the suspicious activity surrounding the wire transfers and bank accounts. The case serves as a reminder of the importance of vigilance in preventing and detecting financial crimes.

Source: https://www.justice.gov/usao-wdva/pr/lebanon-virginia-man-pleads-guilty-14-million-wire-fraud