Wheeling Businessman Sentenced for Defrauding Mortgage Customers
WHEELING, WV—Wheeling businessman Mark C. Busack, 51, was sentenced today to 35 months in prison for defrauding customers of his mortgage brokerage business, United States Attorney William J. Ihlenfeld, II, announced.
Busack pled guilty in December 2014 to a criminal Information charging him with four counts of “Use of an Unauthorized Access Device” and one count of “Filing a False S Corporation Income Tax Return.” Busack admitted that he made over $400,000 in unauthorized charges to credit and debit accounts of his customers and to underreporting his income in 2012 by more than $300,000.
Under the advisory Federal Sentencing Guidelines, Busack faced a potential sentence of between 33 and 41 months in prison.
The amount of restitution that Busack will have to pay to individual victims and to the Internal Revenue Service will be determined by the court at a hearing scheduled for September 24, 2015. Any individuals that have not yet reported losses suffered as a result of the fraudulent scheme should contact the United States Attorney’s Office at (304) 234-0100.
United States Attorney Ihlenfeld and Assistant U.S. Attorney Jarod J. Douglas prosecuted the case on behalf of the federal government. The Federal Bureau of Investigation, the Internal Revenue Service-Criminal Investigation Section, the Ohio County Sheriff’s Department, and the Wheeling Police Department investigated.
Senior U.S. District Judge Frederick P. Stamp presided.