This week, it was announced that a previously convicted felon had pleaded guilty to charges related to defrauding investors of a local newspaper. He also pleaded guilty to unlawful possession of firearms by a previously convicted felon. 52-year-old Brian Thomas Reynolds defrauded investors and lenders of a company that he controlled. That company operates a local newspaper in Loudoun County.
Reynolds was accused of making several materially false and fraudulent representations to investors, potential investors, and lenders regarding the existence and value of advertising contracts held by the company. He was also accused of creating fake advertising contracts when they did not actually exist. Court documents show that Reynolds created bonus loan documentation to defraud an individual who lent money to the company.
Reynolds pleaded guilty to one count of wire fraud and one count of unlawful possession of firearms by a previously convicted felon. Reynolds is scheduled to be sentenced on September 13. At that time, he will face a maximum of 20 years in prison for the wire fraud charge and 10 years in prison for the firearms charge.
Additional details have been made available here.