A federal jury has convicted a Bossier City, La., businessman of conspiring to commit wire fraud for his role in staging the theft of heavy equipment valued at about $140,000.
U.S. Attorney Stephanie A. Finley says 43-year-old Kenneth A. Gordon Jr. was found guilty following a three-day trial. Gordon also was convicted of one count of wire fraud in connection with an insurance claim based on the fraudulent theft of his John Deere equipment.
Trial testimony revealed that the conspiracy was to stage a theft of the equipment and to profit from that theft by submitting a fraudulent claim to Sentry Insurance Company falsely representing that the equipment had been stolen, when in fact Gordon had leased the equipment to a friend for $15,000 per month. Gordon subsequently sold a portion of the equipment to another friend for an additional $15,000.
Gordon faces up to 20 years in prison and a fine of $250,000 for the wire fraud conviction, and up to five years in prison and a $250,000 fine for the conspiracy conviction.
A co-defendant, Don E. Newton, previously entered a plea of guilty to conspiring with Gordon to commit wire fraud.
Sentencing for both is set for Feb. 14, 2013.
Was this article valuable?
Here are more articles you may enjoy.