Seguin Man Sentenced to 54 Months in Federal Prison for Wire Fraud Scheme

United States Attorney John E. Murphy announced that in San Antonio this afternoon, 57-year-old Jeffrey C. Perry, of Seguin, Texas, was sentenced to 54 months in federal prison for his role in a wire fraud scheme.

In addition to the prison term, United States District Judge Harry Lee Hudspeth ordered that Perry pay more than $600,000 restitution to approximately 10 victims, as well as $1,000 in special assessments. Judge Hudspeth also ordered that Perry surrender to the U.S. Bureau of Prisons on January 9, 2012, to begin serving his prison term and after completing it, be placed under supervised release for a period of three years.

On April 27, 2011, a federal jury convicted Perry on 10 counts of wire fraud. Evidence presented during trial revealed that between the summer of 2004 and July 15, 2009, Perry devised a scheme to defraud investors in limited partnerships to develop a cultured marble product. Perry represented to investors that their money would be used for equipment, materials and product testing. In truth, Perry used the money for his and his families personal expenditures, including to assist his wife in establishing her law practice, settle a lawsuit from a previous investor, repay lenders to prevent foreclosure of his residence, pay college tuition and support for his son, to purchase jewelry, to make car payments, to purchase a boat, and to install air conditioning on that boat, among other things.

This case was investigated by the Federal Bureau of Investigation. It was prosecuted for the government by Assistant United States Attorney William R. Harris.