An Oklahoma man admitted on July 14 to wire fraud for his role in a scheme that targeted the Ohio Valley Industrial & Business Development Corporation, which operates as the Regional Economic Development Partnership (RED), a private, non-profit development corporation based in Wheeling, according to U.S. Attorney Matthew L. Harvey.
Terry Pierce, 48, of Muskogee, Oklahoma, said he was involved in a Business Email Compromise scheme. These schemes involve perpetrators compromising legitimate business or personal email accounts and often result in unauthorized transfers of funds and financial losses for organizations and individuals.
Court documents state that RED was targeted in October 2024 when an unknown person used a compromised email address to request payment for solar panels installed on the former Horne’s Department Store building in Wheeling. The individual provided Pierce’s checking account routing number for payment totaling $30,750. Two days after receiving the funds, Pierce transferred them into another account he controlled and depleted the balance.
The investigation revealed further fraudulent activity involving Pierce that resulted in approximately $220,000 in actual or intended loss.
Pierce faces up to 20 years in federal prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Assistant U.S. Attorney Jarod Douglas is prosecuting the case for the government. The West Virginia State Police are investigating. U.S. Magistrate Judge James P. Mazzone presided.