Amherst Man Pleads Guilty To Wire Fraud And Money Laundering

This week, it was announced that 41-year-old Raymond Clark of East Amherst, New York had pleaded guilty to wire fraud and money laundering. The defendant is now facing a maximum penalty of 20 years in prison and a $250,000 fine. The judge handling the case revealed that Clark convinced three victims to send him $870,000 for supposed investments including investments in hedge funds and publicly traded companies. Instead of investing the money as promised, the defendant kept it and spent it on personal expenses. The defendant will pay restitution to the victims as a part of the plea agreement.

Clark is now scheduled to be sentenced on November 15, 2018. Further details have been made available here.

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