Bay Village Man Sentenced to Nearly Four Years in Prison, Ordered to Pay $620,000
|U.S. Attorney’s Office July 23, 2013|
A Bay Village man was sentenced to nearly four years in prison and ordered to pay more than $620,0000 for fraud and tax crimes, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio.
Frederick C. Bryant, age 45, admitted to embezzling $505,832 from a victim that he guaranteed a five percent rate of return. Bryant converted the money for his own personal use. Bryant also failed to report the funds to the IRS, according to court documents.
He pleaded guilty earlier this year to crimes of mail fraud and tax evasion.
U.S. District Judge Dan Polster sentence Bryant to 46 months in prison. He also ordered Bryant to pay $505,832 in restitution to the victim and more than $115,000 in interest and penalties to the Internal Revenue Service.
This case is being prosecuted by Assistant United States Attorney Vasile C. Katsaros, following an investigation by the Federal Bureau of Investigation and the Internal Revenue Service.