Stoltz of Dubois

Stoltz Of Coudersport

Street Machines

Java With JVB, Coudersport

Howard's Inc, Coudersport, PA

Learn IRA Basics, new 2020 rules for IRAs, and answers to frequently asked IRA questions at JAVA with JVB, on Tuesday, February 25, at 12:15 pm, at the JVB Coudersport office on East Second Street. Light refreshments will be served along with Java, of course! See you there!

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JVB

Learn IRA Basics, new 2020 rules for IRAs, and answers to frequently asked IRA questions at JAVA with JVB, on Tuesday, February 25, at 12:15 pm, at the JVB Coudersport office on East Second Street. Light refreshments will be served along with Java, of course! See you there!

Southern Tier Polaris, Olean, NY

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Solomon's Auction & Yard Sale Page

UPMC Cole

Saturday, February 16, 2008

Oxford Lawyer Charged In Adelphia Fraud Case

Saturday, February 16, 2008 Lawyer charged in fraud case

Alleged scam close to $2M

By Craig S. Semon TELEGRAM & GAZETTE STAFF




OXFORD—
An Oxford lawyer who was named in a civil lawsuit two weeks ago in connection with the alleged embezzlement of nearly $2 million from a client from Ireland, has been formally charged with wire fraud for allegedly misappropriating the money.

Raymond A. Desautels III of 57 Millbury Road is accused of embezzling $1,990,000 from the client trust account that he maintained at Hometown Bank. FBI Special Agent Albert D. Lamoreaux filed the criminal complaint against Mr. Desautels Thursday.

The client, Kevin Phelan of Hollywood, Ireland, allegedly was planning to use the money to buy a commercial real estate property in Coudersport, Pa., with Mr. Desautels acting as the closing lawyer for the transaction.

Although he has not been arrested, Mr. Desautels has been issued a summons to appear in federal court at a date to be determined, said Christina DiIorio-Sterling of the U.S. attorney’s office in Boston.

Between Jan. 25 and 28, Mr. Desautels allegedly disbursed $1,940,000 from the client trust account.

According to the criminal complaint, Mr. Desautels — who graduated from St. John’s High School in Shrewsbury and is listed as an Oxford Little League coach on his Web site — knew the trust money had been provided to him in his capacity as the closing lawyer for the purchase and sale of the property.

Mr. Desautels said he made the disbursements at the request of Allen Seymour of 23 Manor Lane according to the complaint.

On Feb. 8, Mr. Seymour was arrested by U.S. Customs and Border Protection officers as he allegedly tried to leave the country on a private jet with his wife, five children, family dog and $1.3 million (allegedly belonging to Mr. Phelan) concealed in brown paper and plastic bags hidden in his luggage.

Mr. Seymour has been charged with wire fraud and interstate transportation of property stolen, converted and taken by fraud. He is being held in the federal detention center in Miami. A detention hearing is slated for Wednesday in Florida, and he is then to be extradited to Massachusetts, Ms. DiIorio-Sterling said.

Zeek, a CBP search dog trained in the detection of U.S. currency, alerted officers to two bags belonging to Mr. Seymour. The two bags were inspected $1,360,421 was found concealed in the baggage, according to the criminal complaint filed Tuesday.

Federal authorities arrested Mr. Seymour at Opa Locka Airport in Opa Locka, Fla. His destination was Venezuela.

According to the criminal complaint filed Thursday, Mr. Desautels was told by Mr. Seymour that Mr. Seymour needed the money for a short time to convince lenders that he and his associates possessed adequate net worth, in the form of verifiable bond deposits, to obtain bank financing.

Although he knew that as of Jan. 28 he had misappropriated $1,940,000 of the trust money, Mr. Desautels initially concealed this from Mr. Phelan, the criminal complaint stated.

On Feb. 1, Sovereign Bank determined that $1,637,000 of the trust money had been issued in certified checks from the account, according to the criminal complaint filed Thursday.

In the criminal complaint, Special Agent Lamoreaux stated that none of the checks processed was sent to the title company in Pennsylvania. The agent found four of the checks, totaling about $750,000, were deposited into several personal bank accounts. The remaining checks, totaling about $900,000, were either cashed by Mr. Seymour at a check cashing business in Worcester or cashed by others who then gave the cash to Mr. Seymour, Special Agent Lamoreaux said.

Mr. Desautels also was named in a civil lawsuit filed Feb. 1 in Worcester Superior Court.

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