BUFFALO, N.Y.-U.S. Attorney William J. Hochul, Jr. announced today that Robert Storey, 44, of Atlanta, Georgia, pleaded guilty before U.S. District Court Judge Richard J. Arcara, to wire fraud. The charge carries a maximum penalty of 20 years in prison and a fine of $250,000.
Assistant U.S. Attorney Russell T. Ippolito, Jr., who is handling the case, stated that the defendant defrauded a film production company located in England in an advance fee scheme which resulted in $300,000 dollars in financial losses. Storey represented to the victim film production company that he and a co-conspirator could obtain a standby letter of credit from banks outside the United States. The defendant assured company representatives that he could monetize the stand by letter of credit which would provide the company with millions of dollars in loans.
As part of the scheme, Storey required the company to provide him with $300,000 which would purportedly cover the costs associated with the financial transaction. The funds were provided but instead of using the money to obtain financing, the defendant and his co-conspirator used the funds for their own purposes.
Storey similarly defrauded two other film production companies. The total loss amount for all three film production companies was $780,000.
Three co-conspirators; Rhett Shepard, Nick Mussolini and Rodney Walker, have been convicted and are awaiting sentencing.
The plea was the culmination of an investigation on the part of Special Agents of the Federal Bureau of Investigation, under the direction of Special Agent in Charge Adam S. Cohen.
Sentencing is scheduled for Sept. 26, 2016 at 12:30 p.m. before Judge Arcara.
Source: U.S. Department of Justice, Office of the United States Attorneys
