Financial Fraud: Mark Gregory Jackson Sentenced For Conspiring To Commit Wire Fraud

FraudsWatch.com

<h2>Little Rock Man Sentenced to Five Years in Prison for Million-Dollar Equipment Flipping Scheme<&sol;h2>&NewLine;<p>LITTLE ROCK—A Little Rock man was sentenced for orchestrating a scheme that defrauded a government program intended help non-profits&comma; municipal agencies&comma; and disadvantaged businesses&period; Mark Gregory Jackson&comma; Sr&period;&comma; 62&comma; of Little Rock&comma; was sentenced to 60 months in federal prison by United States District Judge Brian S&period; Miller&period;<&sol;p>&NewLine;<p>Judge Miller also sentenced Jackson to three years of supervised release following his term of imprisonment&period; Jackson and co-conspirators Jimmy Don Winemiller&comma; Jr&period;&comma; 54&comma; and Don &OpenCurlyDoubleQuote;Terrell” Stephens&comma; Jr&period;&comma; 40&comma; also of Little Rock&comma; all pleaded guilty in July 2018 to conspiring to commit wire fraud&period; Judge Miller ordered Jackson to forfeit over &dollar;1 million and pay up to &dollar;350&comma;000 to settle related tax deficiencies&period; Last October&comma; Judge Miller sentenced Stephens to 30 days in jail and ordered him to forfeit over &dollar;125&comma;000&period; This March&comma; Judge Miller sentenced Winemiller to 20 months’ imprisonment and ordered him to forfeit nearly &dollar;275&comma;000&period;<&sol;p>&NewLine;<p>The scheme targeted the Federal Surplus Property Donation Program&comma; which allowed qualifying non-profits&comma; municipal agencies&comma; and disadvantaged businesses to acquire government surplus at special below-market rates&period; Recipients are required to demonstrate a legitimate need for the surplus&comma; and they must agree not to sell&comma; lease&comma; or rent it&period;<&sol;p>&NewLine;<p>Jackson operated through his construction business&comma; Kingridge Enterprises&comma; Inc&period; He gained access to the program by falsely claiming his disadvantaged nephew owned and operated Kingridge&period; In truth&comma; the nephew never worked for Kingridge&comma; drew no salary&comma; exercised zero control&comma; and lived over 100 miles away from its Little Rock headquarters&period;<&sol;p>&NewLine;<p>Once in the program&comma; Jackson gave false justifications to acquire surplus&comma; which was usually construction equipment&period; After obtaining the construction equipment under these false pretenses&comma; Jackson sold the equipment at steep markups&period; To conceal the fraud&comma; Jackson made buyers sign sham &OpenCurlyDoubleQuote;joint venture” contracts&comma; and he attempted to hide the activity from investigators&period;<&sol;p>&NewLine;<p>A 2013 deal illustrated the scheme&period; On October 1&comma; 2013&comma; an out-of-state equipment dealer wired Winemiller &dollar;20&comma;000 for a CAT 621B Scraper&period; Upon receipt&comma; Winemiller paid Jackson &dollar;18&comma;500&period; On October 2&comma; Jackson&comma; through his construction business&comma; successfully requested donation of the CAT 621B Scraper for just &dollar;12&comma;000 by falsely claiming Kingridge needed it for a &OpenCurlyDoubleQuote;&dollar;1&period;1 Million Dollar Corp &lbrack;sic&rsqb; Engineer Project&period;” Over four years&comma; Jackson unlawfully flipped more than 100 pieces of equipment through deals like this&comma; making over &dollar;1 million in the process&period;<&sol;p>&NewLine;<p>Cody Hiland&comma; U&period;S&period; Attorney for the Eastern District of Arkansas&comma; Mo Myers&comma; Special Agent in Charge of the Memphis Field Office of the FBI&comma; Don Abram&comma; Special Agent in Charge for the Central Region of the Office of the Inspector General for the U&period;S&period; Small Business Association&comma; and Jamie Willemin&comma; Special Agent in Charge for the Southwest Region of the Office of the Inspector General for the U&period;S&period; General Services Administration&comma; announced today’s sentencing&period; Assistant United States Attorney Alexander D&period; Morgan prosecuted the case for the United States following a multi-year investigation by FBI-Memphis&comma; SBA-OIG&comma; and GSA-OIG&period;<&sol;p>&NewLine;

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