Home Seattle Press Releases 2009 Jury Finds Innotek Corporation President Guilty of Fraud
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Jury Finds Innotek Corporation President Guilty of Fraud

U.S. Attorney’s Office July 10, 2009
  • Eastern District of Washington (509) 353-2767

SPOKANE, WA—James A. McDevitt, United States Attorney for the Eastern District of Washington, announced that a federal jury has found Ryan M. Jensen, age 35, of Spokane Valley, Washington, guilty of wire fraud, mail fraud, and money laundering. Ryan M. Jensen was the President of Innotek Corporation, a Spokane Valley business purportedly developing and marketing products for the alarm industry including gas alarms; carbon monoxide alarms; smoke alarms; portable gas detector; and a battery powered wireless interconnecting smoke alarms.

Between 2004 and 2006, Ryan Jensen fraudulently solicited and obtained over $1.5 million from investors and lenders located in Washington, California and Arizona. Ryan Jensen claimed ownership of a patent for wireless smoke alarm technology which he did not own and displayed industry certification labels indicating consumer safety testing on their products which were not legitimate. According to court records, Jensen tried to cover up fraudulent payments by establishing bank accounts that were not disclosed to investors, not placed on the company financial records nor disclosed to the company’s own accountants.

James A. McDevitt, U.S. Attorney for the Eastern District of Washington, stated, "Our economy operates best when all the parties are knowledgeable about the true facts. There is no room for fraudulent concealment and misrepresentations to investors. Our law enforcement partners are to be commended for unraveling this tangle of deception."

"Investment fraud schemes—of any size—prey on the trust of innocent victims who believe the representations made by their promoters," said Kevin Hanff, the acting IRS Special Agent in Charge of the Pacific Northwest. "As shown in this case, the government will hold the perpetrators of fraudulent schemes accountable and vigorously prosecute them."

Ryan Jensen faces a maximum of 20 years' imprisonment for each of the five wire fraud, five mail fraud, and nine money laundering counts, followed by up to three years of court supervision, and restitution. Sentencing has been set for October 9, 2009.

This investigation was conducted by the Federal Bureau of Investigation and the Internal Revenue Service – Criminal Investigation. This case is being prosecuted by K. Jill Bolton, Assistant U.S. Attorney for the Eastern District of Washington.

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