United States Attorney Randolph J. Seiler announced that a Rapid City, South Dakota, man was charged in federal district court for Wire Fraud and Making and Subscribing a False Tax Return.
Mike Lundy, a/k/a Barkley J.W. Lundy, was charged on February 7, 2017. Lundy appeared before U.S. Magistrate Judge Daneta Wollmann on Feb. 14, 2017, and pleaded not guilty to the charges. The maximum penalty upon conviction is 20 years of imprisonment and/or a $250,000 fine, 3 years of supervised release, and $100 to the Federal Crime Victims Fund. Restitution may also be ordered.
The charges relate to Lundy soliciting money from individuals for investments purposes and then using a portion of the solicited funds for his own personal expenses and failing to report the investment income for tax purposes. The charges are merely an accusation and Lundy is presumed innocent until and unless proven guilty.
The investigation is being conducted by the Internal Revenue Service Criminal Investigation. Assistant U.S. Attorney Ben Patterson is prosecuting the case.
Lundy was released for the pendency of the proceedings.
Source: U.S. Department of Justice, Office of the United States Attorneys
