Florida Man Admits Defrauding Factoring Companies

Had a thought to falsely invoice your factoring company, well lets just say it isn't the best idea. Florida man Karl Stehlin aka Mark Sawyer 60 pleaded guilty of an indictment charging him with wire fraud in front of U.S. District Judge William J Martini in Newark Federal court.

According to documents filed in this case and statements made in Court: Stehlin admitted that from June 2014 through September 2014, he defrauded a Bergen County, New Jersey, factoring business that purchased accounts receivable in return for short term financing. He created a bogus Idaho-based company, Sawyer Express Transportation Inc., and emailed accounts receivable invoices to the factoring company for transportation services that were never provided. Stehlin was able to defraud the factoring company out of $220,000 in advance payment on those invoices.

Stehlin also admitted using the same methods to defraud a Glendale, California Factoring business out of $127,953.34 and a Las Vegas factoring business out of $524,025.28.

Stehlin maximum potential penalty of 20 years in prison and a $250,000 fine, or twice the gain or loss from the offense and will be sentence on May 24, 2016.

THANK YOU TO ALL THE TRUCKERS AND REMEMBER TO KEEP ON ROLLIN'

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