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Area contractor sentenced to prison, hefty restitution for 6-year scheme
CENTRAL – A contractor was sentenced to prison and hefty fines following a conviction for bank fraud related to home renovation schemes between August 2004 and November 2010.
The US Attorney announced Friday, the sentence against Carl Wright, 48. Wright was sentenced to six years in jail and must pay back nearly $3 million plus pay a fine and forfeit property.
Prosecutors said Wright lied to obtain millions of dollars from banks and used fake social security numbers to conceal his sketchy past.
Federal authorities said because of his scheme, 12 financial institutions sustained losses totaling more than $2.8 million.
“Major financial fraud, such as the scheme in this case, must be and will be aggressively pursued by our office, along with our federal, state, and local partners,” Acting U.S. Attorney Amundson said.
“These schemes cause tremendous losses to businesses in our community and make it harder for honest businesspeople to succeed. I greatly appreciate the tremendous effort of the FBI and the prosecutors in bringing the defendant to justice.”
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