Accounting Firm Owner Indicted on Money Laundering Charges
The U.S. Attorney for the District of Maryland announced last week that a federal grand jury has indicted Wilkins McNair, Jr., age 48, of Ellicott City, Maryland on 23 charges of wire fraud and money laundering in connection with a scheme to defraud investors in an obesity treatment clinic and to obtain money from them through false representations and promises.
The indictment charges that McNair, a certified public accountant and the owner of an accounting firm was retained to provide accounting and other financial services to Bariatric Care Associates, LLC, (BCA), a corporation established by several investors, including a surgeon and cardiologist, who intended to open a clinic treating patients who suffered from morbid obesity. The investors gave McNair control over the company's bank accounts. Contrary to his agreements with the investors, however, the indictment charges that McNair proceeded to misappropriate approximately $1.3 million of the $1.550 million entrusted to his care and to cover up his theft of the funds and lull the investors into complacency, provided several of the investors with “interest” payments.
The maximum penalty on each of the indictment’s 11 money laundering charges is 10 years in prison and a fine of $250,000.
Read the full release here.